Scam News

Texas securities commission issues desist that will stop cryptocurrency scams

Companies trying to use crypto the to mislead investors

The Texas securities commission has recently stopped a few bad actors of two attempts to mislead cryptocurrency investors into fraudulent cryptocurrency scams. This was apparently a coin miner investment spoof that was sent by email, which provided false associations through their websites while trying to hide their locations. A video from ex-President Barack Obama was also used in order to convince retailers to purchase shares of the DGBK tokens, before their official ICO launch next year.

The Director of Enforcement for the Texas State Securities Board Joe Rotunda, the TSC organization are under the procedures of emergency steps to stop coins Miner Investments. As this can lead to manipulation of online media companies and spoof emailing. Originally a Russian cryptocurrency company, they are attempting to create the illusion of an authentic and sophisticated cryptocurrency mining operation in Britain. At the moment all that is known of the fraudulent company’s location is that it operates 600 miles from the South East part of Moscow.

Upon further investigation, the company Coin Miner has been sending E-mails that apparently came from the cryptocurrency company Coinbase which is an internal cryptocurrency Exchange. The creator of the spoofed E-mails Ana Julia Laram and also an affiliate of Coins Miner has falsely told investors that she trades for the Company Coinbase and the Vice President of Cointelegraph Media group. 

In the email Rotunda stated that: 

“Spoofing and misappropriating the identity of others is an extremely dangerous practice, and it proves especially threatening when directed toward potential investors.”

Rotunda also added that if any external communication came from any reputable companies or trustable parties, that the retail investors will be much more likely to be receptive, as the company would prove reliable. Coin Miner also used some false photos in order to trick the investors about the companies state-of-the-art-office. The company used stocked images in order to represent employees and stock videos to represent existing facilities, with mining equipment. They used a misleading video of a senior writer, which may have lead some to think that it was filmed based on the company.

The TSC has taken steps to stop the DGBK, from further abuse of the investors. The Phonton encrypted ledger key is the wallet name used to present the possibility of transactions in fiat and cryptocurrencies, promising anonymity and peer-to-peer transactions while being unhackable. 

The company DGBK was set to be offering a 1,900 percent back in profits for the purchase of the tokens. That by buying the tokens at $0.50 today they could sell them at the ICO round coming next year for $10.00. Promising the investors millions after the sale of the coins. 

The TSC has taken immediate action on this matter as this could have lead to a more disturbing general public outcome to individuals, the Belize-based firm was accused of misleading investors. DGBK also hid information from the investors like the operations of the company, company backings and how the given wallet works. 

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My occupation is the Research of blockchains and their practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

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