Texas regulator tackled crypto scams …

Texas regulator tackles crypto scammers posing as Coinbase and Barack Obama

The Texas Securities Board (TSSB) has taken urgent action against several cryptocurrency scammers who have promoted their schemes with fake ads and posing as seasoned blockchain service providers.

In a statement released yesterday, TSSB Commissioner Travis J. Isles said his agency had sent three cryptocurrency companies a letter demanding that they stop their illegal activities. All three companies are currently under investigation.

TSSB claims that Coins Miner Investment, DGBK Ltd and Ultimate Assets LLC defrauded potential clients with incorrect, fake and completely inaccurate information.

Coins Miner manipulated the service offer emails as if they came from Coinbase, according to the emergency cease-and-desist letter, the Council said in a statement..

As for DGBK Ltd, the company reported that it has developed “a device for storing and transmitting cryptocurrencies that cannot be hacked.” In addition, the company advertised on social media using a 33-second video where its products were praised by none other than Barack Obama himself..

Texas regulator tackles crypto scams ...

Finally, a cessation letter was sent to Ultimate Assets LLC.

The company allegedly made ridiculous claims that its investors could turn $ 1,000 into $ 10,000 in three weeks. While Ultimate Assets said it would keep investors safe for their initial investment, it did not warn them that capital was at risk, and thus became involved in the crime. Also Ultimate Assets, most likely, is a phantom company – at the indicated address of the headquarters of this company was not found.

Yesterday, the New York State Attorney General’s Office released a report stating that even full-fledged crypto companies are not ready to provide their customers with sufficient protection, not to mention other dubious schemes..

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