SEC, CFTC Sue Goliath Ventures Over Alleged Crypto Scam Worth Over $425M

The US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have jointly filed lawsuits against Goliath Ventures, an investment firm accused of orchestrating a massive crypto scam.

Goliath allegedly pulled in at least $425 million from over 1,300 investors through its cryptocurrency liquidity-pool operation. The SEC claims that the firm conducted an unregistered securities offering between January 2023 and January 2026, promising returns between 3% to 10% per month.

In a separate announcement, the CFTC estimated around $397 million in investments from approximately 1,600 customers, who were promised trades based on Bitcoin and Ether. However, the agencies found that investor assets were not used as promised.