New Jersey crashes 5 crypto sites for running fraudulent investment schemes. According to a statement released by the New Jersey Attorney General and the New Jersey Securities Bureau, New Jersey has crashed five crypto sites set up to run fraudulent investment schemes, prompting them to cease operations in the state. Detail cryptocoin.com‘in.
Operation to crypto sites
Bulk Investments, Forte Trade, Dilna Investments (doing business as Fidelity Revenue), RealBitcore Mining and FilefxOption have been ordered to cease and desist. All platforms “used a variety of tactics common in investment scams to lure investors into fraudulent cryptocurrency investment schemes,” according to officials. This includes vague promises of profit, false customer endorsements, limited and misleading disclosures, and failure to establish company policies. None of these entities are registered with the Bureau to offer or sell securities or act as a broker-dealer in New Jersey, the statement said.
The order referenced three New Jersey investors who were defrauded for a total of $90,000. Collectively, scams perpetrated by websites, according to the statement, include:
Not giving material facts to potential investors, listing fake addresses for businesses, claiming to be registered, licensed, insured or authorized, posting fake testimonials from previous customers, Online scammers exploit the public’s interest in cryptocurrency investment opportunities. Cryptocurrencies are going through a tense period as global regulators consider how best to increase oversight of the $2.6 billion industry. As the market value of digital assets continues to rise, numerous efforts have been made to rein in a variety of products.
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