The U.S. Securities and Exchange Commission (SEC) has secured a final judgment in the NanoBit crypto fraud case, with penalties exceeding $5 million. The U.S. District Court for the Eastern District of New York issued the default judgment on June 16, 2026, against four entities and two individuals involved in the scheme. Since September 2023, the fraudsters posed as financial professionals in WhatsApp groups, luring investors to deposit funds into the fake trading platform NanoBit with promises of high returns from non-existent ICO projects. The platform falsely claimed affiliation with an SEC-registered broker-dealer, NanobitUS Securities. Instead, over $2 million was funneled to Hong Kong bank accounts, and significant crypto assets were misappropriated. The judgment mandates over $5 million in penalties, disgorgement, and interest, and permanently bars the defendants from future securities law violations.