The U.S. Securities and Exchange Commission (SEC) has filed charges against multiple entities, including three purported crypto asset trading platforms and four investment clubs, for allegedly orchestrating a $14 million investment scam that targeted retail investors through social media and messaging apps like WhatsApp. The SEC claims that these scams involved fake AI-themed investment tips and deceptive trading interfaces that lured investors into a scheme that ultimately saw no trading activity. The commission warns of a surge in fraudulent activities within crypto platforms, particularly as scammers exploit social media to attract unsuspecting victims.