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Statement of Charges Against Zenith Asset Tech in Cryptocurrency Fraud

The Washington State Department of Financial Institutions Division of Securities entered a Statement of Charges (S-24-3882-25-SC01) against Zenith Asset Tech Foundation, Cirkor Inc., and 19 additional respondents on April 22, 2026. Between 2024 and 2025, the respondents allegedly defrauded at least 38 investors—including 3 Washington residents—out of nearly $9.9 million through cryptocurrency scams involving fake investment education foundations, fake trading platforms, fake AI-generated trading signals, and unregistered money transmitters. The respondents sold fake securities token offerings and were not registered to sell investments, allegedly failing to disclose material information about their AI bot system and their own registration status. Remedies sought include cease and desist orders and fines.

WA DFI Charges 20 Crypto Entities Under Securities Act

The Washington State Department of Financial Institutions Securities Division has charged 20 cryptocurrency-related entities and individuals with violations of the Securities Act of Washington. The respondents are organized into three categories: six Foundation Respondents (entities purporting to offer investment education), six Platform Respondents (entities claiming to be cryptocurrency trading platforms), and eight P2P Respondents (entities engaged in currency exchanges facilitating investor trading with the platforms). The Securities Administrator has issued a Statement of Charges and Notice of Intent to enter an order requiring the respondents to cease and desist, pay fines, and bear costs pursuant to RCW 21.20.390 and RCW 21.20.395.