SEC Accuses Privvy Founder of $12.3 Million Crypto Investment Fraud

Odaily Planet Daily News The U.S. Securities and Exchange Commission (SEC) has charged Privvy founder Nathan Fuller with a cryptocurrency investment fraud scheme involving $12.3 million.

Nathan Fuller told investors that his proprietary AI-powered robot could automatically scan cryptocurrency trading platforms, capturing price gaps through high-frequency arbitrage. He promised returns of 40% to 50% within 30 to 45 days, or guaranteed returns of over 100% within 21 days. According to the SEC, only about 3% of the funds were actually used for cryptocurrency trading. Nathan Fuller personally embezzled at least $6.2 million and paid approximately $5.5 million to early investors in a manner resembling a Ponzi scheme. (The Block)