The Texas Securities Board (TSSB) has banned the fraudulent firm Delta Crypt Limited. The organizer of the scheme opened several services, masquerading as the Binance cryptocurrency exchange.
Securities Commissioner Travis J. Iles said UK-based Delta Crypt Limited offered cryptocurrency investors get-rich-quick schemes, promising significant returns with minimal risk. Earlier, the Securities and Exchange Commission of the Philippines (SEC) also issued a restraining order on the activities of Delta Crypt Limited, urging the public not to invest in such schemes and not to believe promises of “easy money”. However, attackers continued to promote their zero-risk fraudulent schemes using social media to attract Texas citizens.
The creators of Delta Crypt have deleted their website, however, despite a warning from the regulator, instead of terminating operations, they opened three investment platforms under the names Binance Assets, BinanceAssets LTD and Bit Kind LTD. According to the “Golden Plan” of the investment scheme, investors were guaranteed a profit of 30%, and the participants of the “Diamond Level” could count on a profit of 40%.
The Texas Securities Board accused Delta Crypt of fraud, publishing false statements that mislead investors, and withholding important information about the Philippine regulator’s ban. The ruling states that Delta Crypt is illegally recruiting sales agents, promising to pay them commissions regardless of whether they are licensed or registered. The Texas Securities Board also mentioned Digitaly Invest and FxSmart-Robots. They offer multi-level marketing investment schemes in oil & gas and precious metals, guaranteeing investors between 30% and 40% returns. These firms are also accused of hiding important financial information, misrepresenting the location of their offices and illegally hiring sales agents.
Last year, the Texas regulator ordered the closure of Bitcoin and foreign exchange trading firm Mirror Trading International (MTI). In addition, at the end of last year, the TSSB banned fifteen other cryptocurrency firms, which were run by one person.
