Nigeria’s Securities and Exchange Commission (SEC) has issued warnings regarding the activities of AURUM BOT and ModMount Services Limited. The apex regulator of the capital market flagged both entities for operating without the necessary legal licenses and for exhibiting high-risk characteristics typically associated with fraudulent Ponzi schemes.
This SEC’s newest move in 2026 is part of the regulator’s broader crackdown on unregistered digital asset platforms that lure retail investors through social media with promises of “guaranteed” or “unrealistically high” returns.
In separate statements, the SEC said its attention has been drawn to the activities of AURUM BOT, “which presents itself as an investment platform dealing with cryptocurrency in Nigeria.”