SEC Charges Two Investment Advisers Over Alleged $15 Million WhatsApp Crypto Fraud

The U.S. Securities and Exchange Commission (SEC) has charged two investment advisers in connection with an alleged cryptocurrency fraud scheme that raised approximately $15 million through WhatsApp, according to an announcement and related filing dated September 29, 2026.

Alleged WhatsApp Investment Scheme

The case highlights the growing use of social-messaging platforms to promote digital-asset investment opportunities. The SEC’s action centers on allegations that the two advisers used WhatsApp to solicit investors and promote a fraudulent cryptocurrency-related offering.

The agency’s charges remain allegations, and the defendants are entitled to due process. The SEC will need to establish its claims through the relevant legal proceedings.

Implications for Digital-Asset Investors

The enforcement action underscores the risks associated with investment solicitations conducted through private messaging applications. Market participants should carefully verify the registration status of advisers, the identity of individuals promoting digital-asset opportunities, and the supporting documentation for any investment proposal.

The case also reflects the SEC’s continued scrutiny of cryptocurrency-related activities and alleged misconduct involving digital assets and online communications.