Texas securities regulator intervenes to stop another digital currency scam
Delta Crypt has already been the subject of warnings from regulators, who claim the scheme has been “illegally offering securities paying ‘ridiculous’ returns.”
Delta Crypt has already been the subject of warnings from regulators, who claim the scheme has been “illegally offering securities paying ‘ridiculous’ returns.”
Shawn Cutting is accused of raising millions of dollars off the back of false claims about his licensing status, and through misrepresenting investment returns and misappropriating investor money.
The lawsuit alleged that YouTube had “feigned ignorance” as XRP scams defrauded millions of dollars on the video sharing platform.
The new measures include enhanced Know-Your-Customer verification processes, as well as the introduction of new specialized blockchain intelligence technologies.
Sohrab Sharma, the co-founder of Centra Tech, reportedly relied on fake partnerships and endorsements from celebrities like boxing champion Floyd Mayweather to lure investors.
Financial authorities in Vietnam have issued a warning to the public to be aware of the risks of investing in digital currency.
Roger Nils-Jones Karlsson is the founder of Eastern Metal Securities, a company that authorities said targeted no less than 3,577 investors.
In an alert aimed at New York investors, Attorney General James described the “extreme risk” of investing in digital currencies, made all the more relevant by the recent surge in prices.
The judge said the plaintiffs had failed to prove their losses arising from the alleged fraud, and that they lacked the necessary personal jurisdiction to bring the action on behalf of the class.
Krstijan Krstic founded Start Options and Bitcoiin2Gen, or B2G, in 2017 and reportedly induced U.S. investors into the scam, authorities said.
The Financial Markets Authority stated that it saw a record in whistle-blower reports of potential fraud in 2020, with digital currencies as the main focus.
A New Jersey watchdog has recommended the quick implementation of regulation to govern digital currency ATMs in the state.