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SEC Sues Privvy Founder Nathan Fuller Over $12.3M Cryptocurrency Fraud on May 31

GateNews
Enforcement ActionsSecurity Incidents
According to The Block, the SEC sued Nathan Fuller, founder of Privvy Investments LLC, on May 31 for operating a cryptocurrency fraud scheme worth $12.3 million. Fuller solicited approximately 150 investors across nine U.S. states and two foreign countries between October 2022 and mid-2024, promising returns of 40-50% in 30-45 days through a purported AI-powered trading bot designed to execute high-frequency arbitrage. Only about 3% of the collected funds were used for actual cryptocurrency trading; Fuller personally misappropriated at least $6.2 million and funneled approximately $5.5 million to early investors in a Ponzi-like scheme. Fuller also operated under the alias "Gateway Digital Investments."
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