In its latest effort to fend off cryptocurrency scams, the Securities and Exchange Commission launched its own fake initial coin offering website today called the Howey Coin to warn people against fraudulent cryptocurrencies. From a report: The name is a tongue-in-cheek reference to the Howey Test that the SEC uses to determine whether an investment is a security, which the Commission would there
Jon Russell and Mike Butcher from TechCrunch report of the mess that is Telegram's billion-dollar initial coin offering (ICO): Telegram's ICO was supposed to be a record-breaker to develop a platform that brings the decentralized internet to life. Instead, it has become a mess with the tightly controlled fundraising process in disarray as early backers sell their tokens for handsome returns. The
German company Savedroid has pulled a classic exit scam after raising $50 million in ICO and direct funding. The site is currently displaying a South Park meme with the caption "Aannnd it's gone." The founder, Dr. Yassin Hankir, has posted a tweet thanking investors and saying "Over and out." TechCrunch reports: A reverse image search found Hankir's photo on this page for Founder Institute, and h
German company Savedroid has pulled a classic exit scam after raising $50 million in ICO and direct funding. The site is currently displaying a South Park meme with the caption "Aannnd it's gone." The founder, Dr. Yassin Hankir, has posted a tweet thanking investors and saying "Over and out." TechCrunch reports: A reverse image search found Hankir's photo on this page for Founder Institute, and h
Catalin Cimpanu, writing for BleepingComputer: A cryptocurrency startup named LoopX has pulled an exit scam after collecting around $4.5 million from users during an ICO (Initial Coin Offering) held in the recent weeks. The LoopX team disappeared out of the blue at the start of the week when it took down its website and deleted its Facebook, Telegram, and YouTube channels without any explanation.
Facebbook has a new advertising policy pertaining to cryptocurrency, binary options and initial coin offerings. The policy specifically prohibits ads that promote those types of products and services "that are frequently associated with misleading or deceptive practices," Facebook Product Management Director Rob Leathern wrote in a blog post today. TechCrunch reports: Cryptocurrencies like Bitcoi
Facebbook has a new advertising policy pertaining to cryptocurrency, binary options and initial coin offerings. The policy specifically prohibits ads that promote those types of products and services "that are frequently associated with misleading or deceptive practices," Facebook Product Management Director Rob Leathern wrote in a blog post today. TechCrunch reports: Cryptocurrencies like Bitcoi
The Securities and Exchange Commission has shut down Munchee, a company that built a $15 million token sale. According to TechCrunch, "The Munchee ICO aimed to fund the MUN coin, a payment system for restaurant reviews." However, the company "received a cease and desist from the SEC on December 11" because it constituted the offer and sale of unregistered securities. From the report: Within the S