Bu makaleyi paylaş
SEC Alleges Day Trader Used Bitcoin to Hide Fraud Profits
The SEC is suing a Philadelphia day trader for alleged fraud, claiming the individual used bitcoin to hide the profits they generated.
Yazan Nikhilesh De
The U.S. Securities and Exchange Commission (SEC) is suing a Philadelphia day trader for alleged fraud, claiming they used bitcoin to hide their profits.
On Oct. 30, the SEC filed suit against Joseph Willner, accusing him of illegally taking over more than 100 brokerage accounts and using the victims' funds to artificially inflate stock prices that he would then trade against advantageously.
STORY CONTINUES BELOW
Başka bir hikayeyi kaçırmayın.Bugün Crypto Daybook Americas Bültenine abone olun. Tüm bültenleri gör
In order to hide the profits of those activities, the SEC said, Willner used an unnamed bitcoin exchange to convert the funds from U.S. dollars to bitcoin. Those proceeds were then transferred to another individual, who was not named in the lawsuit.
The agency said in a release:
"To mask his payments to the other individual as part of a profit-sharing arrangement, Willner allegedly transferred proceeds of profitable trades to a digital currency company that converts U.S. dollars to Bitcoin and then transmitted the bitcoins as payment."
According to the complaint, the two made at least $700,000 in profits through the alleged account take-over scheme. The SEC added that its investigation is still ongoing.
The case was investigated through the SEC's Cyber Unit, which was unveiled in September and is aimed in part at crimes involving cryptocurrencies.
"Account takeovers are an increasingly significant threat to retail investors, and it is exactly the type of fraud our new Cyber Unit is focusing on," Stephanie Avakian, Co-Director of the SEC’s Division of Enforcement, said in a statement.
Gavel image via Shutterstock
Sizin için daha fazlası
Bilinmesi gerekenler:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Sizin için daha fazlası
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
Bilinmesi gerekenler:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
