The Federal Trade Commission (FTC) and the state of Nevada have filed a landmark lawsuit against IML (IM Mastery Academy) alleging a staggering $1.2 billion in consumer fraud related to deceptive cryptocurrency investment schemes. This case, initiated on May 1, 2025, highlights the FTC’s ongoing efforts to combat deceptive practices targeting young and vulnerable consumers in the volatile crypto market. The lawsuit reveals IML allegedly promised unrealistic financial gains through trading courses since 2018. Key figures, including Nevada Attorney General Ford, emphasized this case as a demonstration of their commitment to protecting consumers from fraudulent schemes, particularly those that exploit youth. The FTC’s complaint underscores the risks associated with investment promises that lack transparency and fail to deliver on their claims. Regulatory consequences are expected to impact educational platforms in the crypto space, prompting concerns about ethical conduct and consumer safety. This lawsuit serves as a significant signal of heightened scrutiny from regulatory bodies and reinforces past efforts to address fraudulent activities within the broader crypto industry.