What Links Barack Obama With These Crypto Scammers?
Barack Obama, ex-President of the United States of America and the latest victim of crypto crime, of sorts at least.
According to The Next Web, the Texas States Securities Board (TSSB) have stepped up to take action against three cryptocurrency companies within Texas that have been found to be acting deceitfully and making false claims, one company have even been found to have fabricated a short video that seems to show Barack Obama endorsing the companies products, though obviously Obama had nothing to do with it.
The TSSB have issued cease and desist notices to Coin Miner Investment, DGBK Ltd and Ultimate Assets LLC, all of whom are accused of lying to customers and have been providing them with false information. According to The Next Web, an official statement from the TSSB regarding Coin Miner Investment reads as follows:
âAccording to the Emergency Cease and Desist Order, Coins Miner is manipulating its email solicitations to make them appear as if they came from Coinbase.â
DGBK Ltd are accused of claiming to have developed a hack proof method for the storage and transfer of cryptocurrencies, without actually providing any evidence of the security that exists within the product.
Ultimate Assets Ltd have been accused of a number of different wrongdoings, according to The Next Web:
âThey have made outlandish claims that investors can turn $1,000 into $10,000 in a matter of three weeks. While the company claims to offer guarantees on initial investments, it is not warning investors that their capital is at risk, and so, is committing fraud. Whatâs more, Ultimate Assets appears to be a phantom company, it is not located at the address it states as its headquarters.â
What does all of this mean?
So, with the notices in place, these companies now must stop trading, they will get into a huge amount of trouble if they don't. Furthermore though we should expect the TSSB to continue exploring these companies in order to determine how far they have taken their deceit and in order to determine if any crimes have been committed. If so, customers of the firms may be entitled to some form of compensation, though at this moment in time we canât actually guess if any investigations will reach this point.
For now, we simply just need to be thankful that at the very most, it seems no more innocent parties are going to be duped by these firms malicious intentions.
The Next Web