New Acting Inspector General of the US SEC Prioritizes Combating Cryptocurrency Fraud

According to CryptoSlate, the new Acting Inspector General of the U.S. Securities and Exchange Commission (SEC), Katherine Reilly, has made cryptocurrency fraud a top regulatory priority. Her office's October 2024 report shows that cryptocurrency scams account for 18% of the total SEC investor complaints, with retail investors losing $3.96 billion in 2023. Reilly took over during the transition period from the retired Deborah Jeffrey and previously led the investigation into the 2024 SEC official Twitter hack (which caused a $1,000 fluctuation in Bitcoin prices) while serving as Deputy Inspector General.