SEC Sues Privvy Founder Over Alleged $12.3 Million Crypto Scheme

The US Securities and Exchange Commission (SEC) has taken legal action against the founder of Privvy, a company involved in a high-profile cryptocurrency scandal.

According to the SEC's complaint, the founder allegedly orchestrated a $12.3 million scheme that duped investors into investing in fake AI-powered 'bots'.

The SEC claims that the 'bots' were not actually using artificial intelligence, as promised by Privvy's marketing efforts.