Wu Shuo learned that the U.S. SEC has sued Texas resident Nathan Fuller, accusing him of operating cryptocurrency investment schemes under the names Privvy Investments and others, raising approximately $12.3 million from about 150 investors. The SEC states that Fuller falsely claimed he would use AI-based high-frequency arbitrage trading robots for cryptocurrency trading and promised investors returns of over 40% to 100% within 21 to 45 days. The SEC alleges that he misappropriated at least $6.2 million of investor funds for personal expenses, used about $5.5 million for similar Ponzi scheme-style payouts, and concealed the use of funds through fake account statements and forged documents. Currently, the SEC has filed a lawsuit for violations of securities issuance and anti-fraud provisions, seeking to recover illegal gains and civil penalties.