The U.S. Securities and Exchange Commission announced on June 29, 2026 that the U.S. District Court for the Eastern District of New York entered a default final judgment on June 16, 2026 against NanoBit Limited, Radiant Horizons, Zhao Deli, Sweet Karma, Liu, and Zhao in SEC v. NanoBit Limited, et al., No. 2:24-cv-06517-SJB-ST.
According to the SEC, from at least September 2023 to at least June 2024, scheme participants posed as financial industry professionals in WhatsApp groups to build investors’ trust, then encouraged them to invest through the supposed NanoBit crypto asset trading platform. NanoBit allegedly falsely claimed that its affiliate, NanobitUS Securities, was a SEC-registered broker. No transactions actually took place on the NanoBit platform. Investors’ funds were diverted to scheme participants, who wired more than $2 million to bank accounts in Hong Kong and misappropriated hundreds of thousands of dollars’ worth of investors’ crypto assets.
Monetary Relief and Injunctions
The default final judgment permanently enjoins all defendants from violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. Monetary relief includes: NanoBit Limited — disgorgement of $532,649, prejudgment interest of $81,957, and a civil penalty of $1,182,251; Radiant Horizons, Zhao Deli, and Sweet Karma — civil penalties of $1,182,251 each; Liu — disgorgement of $60,603, prejudgment interest of $9,485, and a civil penalty of $50,000; and Zhao — disgorgement of $4,500, prejudgment interest of $704, and a civil penalty of $50,000.
(Source tag: SEC Litigation Release No. 26576)