SEC Charges Three Crypto Firms for $14M Fraud Scheme Targeting Retail Investors
- Fraud Charges: The SEC has charged Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., and Cirkor Inc., along with their investment clubs, for allegedly defrauding retail investors of over $14 million, highlighting a common pattern in modern online investment scams.
- Fake Platforms: These companies attracted victims through social media ads promising easy profits and advanced AI investment advice, subsequently luring investors to deposit funds on purported crypto trading platforms that falsely claimed government approval.
- Misappropriation of Funds: The SEC alleges that all investor funds were ultimately misappropriated and funneled overseas through a complex network of bank accounts and crypto wallets, demonstrating the systemic and intricate nature of the fraud, leaving investors unable to recover their money.
- Abuse of AI Technology: Fraudsters are increasingly using AI-generated investment advice and deepfake technology to create realistic videos impersonating well-known figures, enhancing the credibility of their scams and reflecting the emerging role of technology in financial fraud.
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Technical Analysis for AI
Technical Sentiment Analysis for Sleepless AI (AI) As of , Sleepless AI (AI) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for AI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, AI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sleepless AI (AI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00923 | 0.0148 | 0.0204 | 0.026 | 0.0316 | 0.0372 | 0.0428 |
| Fibonacci | 0.0148 | 0.0191 | 0.0217 | 0.026 | 0.0303 | 0.0329 | 0.0372 |
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