The North Dakota Securities Department has issued a warning that some "investment education foundations" claim to teach investors about cryptocurrencies and stocks, but are actually scams. These scams use deceptive tactics, including "risk-free" trials and fake loans, to convince victims to invest and pay exorbitant commissions. These scams often start with social media ads that lead potential victims to WhatsApp groups run by fake founders and bots. In these groups, the so-called founders offer investment courses and then introduce a fraudulent cryptocurrency exchange. Investors initially receive "free" tokens to test an AI trading bot that falsely generates profits. Encouraged by the illusion of success, people deposit real money, and if they lack funds, the scammers direct them to fake loan providers on Telegram. These loans are directly credited to the fraudulent exchange, but victims soon find that they cannot withdraw any funds unless they repay the loans or pay false commissions. The scam uses regulatory issues as an excuse to freeze accounts, then the scammers shut down the business and reopen under a different name. To gain credibility, the scammers may present genuine government documents, claiming to be registered with the SEC and the U.S. Department of the Treasury, and post misleading articles online.