The new SEC Acting Inspector General has identified combating cryptocurrency fraud as a top priority task.

Blockbeats

05-20

BlockBeats News, May 20th, according to CryptoSlate, Katherine Reilly, the new Acting Inspector General of the U.S. Securities and Exchange Commission (SEC), has identified cryptocurrency fraud as a top supervisory priority. A report from her office in October 2024 revealed that cryptocurrency scams accounted for 18% of total investor complaints to the SEC, resulting in retail investors losing $3.96 billion in 2023. Reilly took over during a transition period from the retired Deborah Jeffrey and previously led the investigation into the 2024 SEC official Twitter hack (which caused a $1000 instant Bitcoin price swing).

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