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Saturday, 24 October 12:16 (GMT -05:00)



Foreign exchange market

Texas Authorities Spot New Crypto Scams


The TSSB, which is the financial regulator of Texas, is reported to have revealed a couple of potential scams in the international market of cryptocurrencies. These are named Forex Birds and PEK Universe. From now on, both of these projects cannot work in Texas anymore. These projects were banned on September, 3rd.
 
The founders of these two projets are accused of illegal offers  in the forex and cryptocurrency markets. In particular, Forex Birds promised 11% on any investment over 1 million dollars. Also, the authority claims that the founders deceived potential investors by saying that they were registered in Europe and Australia, which was certainly not the case.
 
As for Pek Universe, a promoter of various shady cryptocurrency projects, promised potential investors a daily return of around 2%, for 30 days. it should be noted that none of these projects were registered in Texas. At this point, the founders may get $10.000 fines and from 2 to 10 years in prison.
 
The TSSB is one of the biggest financial regulators in the United States. It has been really active in the cryptocurrency field. It is also known as the first financial regulator in the USA to start enforcement proceedings against a cryptocurrency-related firm.
 

 

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