Alabama Securities Regulator closes 97 fraudulent cryptocurrency trade websites-regulation
Alabama Securities Regulator closes 97 fraudulent cryptocurrency trade websites-regulation
The security authority of the US state of Alabama has issued an injunction against Acoin Trading and 96 other cryptocurrency websites. The crypto investment systems promise "excessive returns", report "fictitious account values" and raise "non-open fees".
The US state regulatory authority orders the closure of 97 crypto trade website
The Alabama Securities Commission announced on Thursday that they were against an injunction. has issued 97 websites for trade in cryptocurrencies . In the announcement it says:
The Alabama Securities Commission (ASC) has issued a injunction against Sir Philip Zuka, owner of Acoin Trading and 96 other fraudulent crypto trading platforms.
"The order is the result of Zukas failure to register its investment products and not to register as an investment consultant," said the supervisory authority and added:
ZUKA violates Alabama's securities laws because it promises excessive returns, reports fictional account values and not imposed on an Alabama investor.
The supervisory authority said that an investor from Alabama Acoin Trading online and was fascinated how the program could bring investors into eight times the original investment in just one week.
"As a result, the investor took part in a demo and invested approximately $ 10,000 in Bitcoin, which was paid into a wallet provided on the Acoin Trading website," said the ASC.
When he wanted to withdraw his money, Zuka asked for additional payment before funds could be withdrawn. The investor soon realized that the investment was fraud; He immediately filed a complaint with the ASC and stopped any communication with Zuka and his trading platform.
The supervisory authority said, however, that Alabama's resident lost the entire investment.
According to the order, the owner of Acoin Trading was a user of Namecheap Inc. named Sir Philip Zuka or Sirzuka. The order details:
'sirzuka' created 281 websites through name -ceap Inc. Of the 281 websites, 127 and 96 of them work in the same way as Acoin Trading. The IP addresses come from Nigeria, Europe or the USA.
What do you think that the Alabama 97 websites have closed for crypto trading? Let us know in the comment area below.
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