According to BlockBeats, the U.S. Federal Trade Commission (FTC) and the state of Nevada have filed a lawsuit against a company named IML. The legal action, initiated on May 2, accuses IML of misleading consumers through false advertising of cryptocurrency, forex, binary options, and stock trading courses. Since 2018, the company is alleged to have defrauded approximately $1.2 billion. IML has operated under various names, including IM Mastery Academy and iMarketsLive.