NanoBit (Fake Crypto Platform — SEC Pig Butchering Judgment)
Summary
NanoBit Limited was a fraudulent cryptocurrency trading platform operated from approximately September 2023 to June 2024 that defrauded at least 18 investors of nearly $1 million via a 'pig butchering' scheme conducted through WhatsApp groups. The U.S. Securities and Exchange Commission filed charges in September 2024 against four corporate entities and three individuals, and on June 16, 2026, the U.S. District Court for the Eastern District of New York entered a $5,518,902 default judgment — one of the SEC's first securities-fraud judgments against a fake-platform pig butchering operation — though recovery is considered essentially impossible as more than $2 million was wired to bank accounts in Hong Kong.
Connected Entities
1 entities · 10 linked investigationsTimeline(9 events)
2023-09-01
NanoBit scheme begins; operators start recruiting victims through WhatsApp investment groups, posing as financial industry professionals.
CoinDesk / SEC litigation release2024-05-03
Fei Liao, 29, of San Gabriel, California, taken into federal custody on criminal charges of conspiracy to commit wire fraud and conspiracy to commit money laundering in the Central District of California.
CoinDesk (September 2024 charges article)2024-05-20
Fei Liao waives arraignment and pleads not guilty to criminal charges.
Yahoo Finance / SEC charges reporting2024-06-01
NanoBit scheme ends; operators cease activity after running from approximately September 2023 through June 2024.
SEC litigation release LR-261102024-09-26
SEC files civil complaint against NanoBit Limited, Radiant Horizons Limited, Sweet Karma Fashion Inc., Zhao Tropical Deli Inc., Jiajie Liu, Fei Liao, and Hua Zhao in the U.S. District Court for the Eastern District of New York, marking the agency's first pig butchering enforcement action.
SEC Press Release 2024-1342026-02-19
Fei Liao pleads guilty to conspiracy to commit money laundering and is sentenced to 40 months in federal prison by U.S. District Judge J. Campbell Barker; ordered to forfeit over $2.3 million and pay restitution exceeding $2.8 million.
DOJ Eastern District of Texas (sentencing report) / Gilmer Mirror2026-06-16
U.S. District Court for the Eastern District of New York enters default judgment of $5,518,902 against six defendants (NanoBit Limited, Radiant Horizons Limited, Sweet Karma Fashion Inc., Zhao Tropical Deli Inc., Jiajie Liu, Hua Zhao). All defendants failed to appear. Fei Liao excluded from civil default judgment.
SEC Litigation Release LR-26576 / CoinDesk2026-06-29
SEC issues formal litigation release (Litigation Release 26576) announcing the NanoBit default judgment.
SEC.gov litigation release2026-06-30
Multiple crypto and mainstream media outlets report on the NanoBit judgment, citing it as the SEC's first securities-fraud judgment against a fake-platform pig butchering scheme.
CoinDesk, The Block, CryptoTimes, Law360Decision Log
- hash: HoeHrGVk1p1aPRkoPRMJGzPkgE2WUg7z52fb5rc7Ji8V
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-code-investigator
generated: 7/1/2026, 5:07:21 PM
last updated: 7/1/2026, 5:07:30 PM
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