companies

DasCoin is the latest MLM cryptocurrency to receive a securities fraud cease and desist.As part of Operation Cryptosweep, the British Columbia Securities Commission issued DasCoin with a cease and desist notice.
As at the time of publication the DasCoin cease and desist notice hasn’t been made public. Nor do we know exactly when it was issued.
Seeing as the notice is part of Operation Cryptosweep however, I believe DasCoin was served sometime over April or May.
On the MLM side of things DasCoin is promoted through Net Leaders (formerly Coin Leaders).
On the Net Leaders website, the company markets itself as “the home of DasBlockchain”.
As…

Trident Crypto Fund emerged in April 2018 as yet another MLM cryptocurrency Ponzi scheme.Built around the recently launched TDC ICO, Trident Crypto Fund solicits investment in bitcoin on the promise of daily ROIs of up to 1% in TDC points.
Following an Operation Crypto-Sweep internal investigation, New Jersey has issued Trident Crypto Fund with a securities fraud cease and desist.
Although New Jersey doesn’t go into specifics regarding it’s investigation, it’s easy enough to put two and two together.
Outside of Trident Crypto Fund TDC points are worthless.
The business model sees bitcoin transferred to Trident Crypto Fund’s anonymous owners, in exchange for TDC.
TDC is…

Citing cryptocurrency as inherently “insecure” and “volatile”, the FTC is seeking a court order requiring defendants to liquidate crypto assets held into USD.The May 11th motion was filed as part of the FTC’s case against Scott Chandler, Louis Gatto, Eric Pinkston & Thomas Dluca.
The four defendants stand accused of scamming the general public through a series of pyramid and/or Ponzi schemes.
The FTC argues liquidation of the defendant’s crypto assets is required
in order to preserve the value of the frozen cryptocurrency and prevent it from being stolen, lost or dissipated.
If granted, the FTC’s requested liquidation order will require Chandler, Gatto, Pinkston and…

The FTC and Eric Pinkston have reached a preliminary injunction agreement, resulting in an agreed injunction granted on April 20th.Last month the FTC sued Pinkston for promoting and profiting off of the Bitcoin Funding Team and My7Network scams.As per the agreement, the court acknowledges that the FTC has an “ultimate likelihood of success”.The FTC has shown a likelihood that it will ultimately succeed on the merits.Based upon the audio and video recordings, website screen shots, website captures, consumer declarations, investigator declarations, an expert declaration, and other evidence submitted by the FTC, there is good cause to believe that Defendant Eric Pinkston…

Following a cease and desist issued last month, Power Mining Pool’s website was quickly pulled offline.Power Mining Pool’s admins strung investors along while they quietly executed their exit strategy, after which communication lines went silent.Now North Carolina has confirmed Power Mining Pool failed to respond to the cease and desist notice, confirming the company’s owners exit-scammed.On April 19th North Carolina made the March cease and desist against Power Mining Pool permanent.This prohibits the company and its owners from continuing to fraudulently offer securities in North Carolina – not that it does the company’s victims any good.The North Carolina Securities Division reveal…

MinerWorld, an MLM cryptocurrency touting 12 month mining ROIs, is under investigation in Brazil.Yesterday Brazilian Federal Police and the Public Ministry announced they were investigating MinerWorld, on suspicion the company is a pyramid scheme.In addition to a federal investigation, MinerWorld’s owner, Cícero Saad Cruz (right), is the subject of organized crime investigations in Mato Grosso do Sul and Sao Paulo.These investigations lead to a recent raid on MinerWorld’s Campo Grande headquarters.Authorities in Mato Grosso do Sul claim their investigation revealed no evidence of MinerWorld mining bitcoin in Brazil or abroad.MinerWorld claims it mines bitcoin in Paraguay and China.The investigation follows reports from investors…