Cryptocurrency
As Crypto Rips Higher, the US SEC Is Warning of ICO Scams Yet Again
As reported at NewsBTC, “It’s been an explosive past few weeks for the crypto market. While much focus has been put on Bitcoin and Ethereum, altcoins have also performed extremely well, with some rallying hundreds of percent or thousands of percent in literal days. “Although much of this growth has been through legitimate projects, the […]
As reported at NewsBTC, “It’s been an explosive past few weeks for the crypto market. While much focus has been put on Bitcoin and Ethereum, altcoins have also performed extremely well, with some rallying hundreds of percent or thousands of percent in literal days.
“Although much of this growth has been through legitimate projects, the U.S. Securities and Exchange Commission is once again warning of fraudulent ICOs.
“In a tweet published July 30th, the New York office of the SEC wrote: ‘Be aware of potential scams involving Initial Coin Offerings.’
“Attached to the office’s warning was an investor alert from August 28th, 2017 — near the peak of the last ICO boom — written by the SEC’s Office of Investor Education and Advocacy.
“The alert, though, is somewhat outdated: it mentions ‘potential scams involving stock of companies claiming to be related to, or asserting they are engaging in, Initial Coin Offerings (or ICOs).’
“From the information NewsBTC has, these scams are not as prevalent as they were in 2017. However, it is still worth keeping one’s head on a swivel, so to say, when dealing with characters purporting to offer ICOs or related investment vehicles…”