Texas Regulators Issue Cease-and-Desist Letter to Phony Crypto Venture

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A cryptocurrency firm in Dallas, Texas has received a cease-and-desist letter from state regulators telling it to stop making false promises to its customers. The company, known as Forex and Bitcoin Trader, was advertising on Craigslist that those who invested their funds in the company early would receive 900 percent gains within a matter of weeks. Texas Seems to Be the Chosen Hunting Ground for Crypto Criminals Obviously, this sounds too good to be true… Virtually impossible. 900 percent that quickly? Unless the investment is in some sort of newly discovered mineral ore that’s vital to the existence of human life, this number seems a little farfetched… Just way too big. Texas officials took issue with these claims and immediately jumped into action, telling the company to end its phony bologna promises or face the consequences. The company claimed it could produce such returns through an insurance policy it had…

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