Alleged Cryptocurrency Trading Platform Appears to Be Engaged in Fraud – Sea Collar Alliances, LLC

06/23/26 UPDATE – The Securities Division received a complaint from a second investor who, similarly, was invited to invest via WhatsApp and was told the trading algorithm was created by a Stanford Professor, Alan Weiss. The investor was told that new funds needed to be deposited into their account to make a withdrawal. In November 2024, Sea Collar Alliances Limited registered itself as a corporation in Washington State with a Seattle address.  The property manager at the address confirmed that Sea Collar is not and has never been a tenant there. Sea Collar’s corporation registration is now administratively dissolved.

01/05/26 UPDATE – The Securities Division was forwarded a complaint from the State of California Department of Financial Protection and Innovation concerning Sea Collar Alliances. The investor was invited to invest via WhatsApp. The investor was told that the trading algorithm was created by a Stanford Professor, Alan Weiss. When the investor tried to withdraw funds, they were told their account was locked and that new funds were needed to unlock their account. 

In the previous complaint, the investor learned about Sea Collar Alliances, LLC through a YouTube advertisement. When the investor tried to withdraw their funds, they were told their account was frozen. The investor was told that a 10% service fee on their profits was needed to unfreeze their account. The investor is unable to withdraw their funds.

How to Report

If you believe you are a victim of this alleged cryptocurrency scam:

• Report to FBI
• If you are outside Washington State: contact your local Securities Regulator
• If you are a Washington State resident: Submit a Complaint for statistical purposes. 

Other Resources:

• Virtual Currency, Cryptocurrency, and Digital Assets Information for Consumers
• Investment Fraud
• What You Can Do to Avoid Investment Fraud | Investor.gov