The Texas State Securities Board recently issued an emergency action to halt the deceitful offerings of investments in three crypto-related schemes. The news went viral in the Bitcoin scams category and many analysts have commented the situation.
The agency first entered a cease and desist order against Coins Miner Investment Ltd., DigitalBank Ltd. as well as Ultimate Assets who is charged for offering the Texas misleading ROIs and grew an initial investment of $1,000 in $10,000 in three weeks.
As the emergency order notes, Coins Miner was found to have used emails and manipulating online media in order to solicit funds from Texas residents by fooling its users and pretending that they are Coinbase, one of the largest cryptocurrency exchanges out there.
The author of the fake email, Ana Julia Lara (an affiliate of Coins Minter), is accused of claiming to be a vice president of the CoinTelegraph Media Group. The organization also showed stock photos in order to portray its (fake) employees.
DigitalBank, on the other hand, claimed to be building an external wallet called “Photon Encrypted Ledger Key” and raised capital for an illegal initial coin offering (ICO). The company is also charged for misleading people with multiple videos which featured President Barack Obama used for describing the Photon Encrypted Ledger Key.
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