Thursday, 11 January 2018

Investor Alert Issued Regarding Cryptocurrency Scams

The Department of the Secretary of State for North Carolina, (Elaine F Marshall) has just issued this 
Investor Alert regarding the growing trend of companies springing up to take advantage of the growing Cryptocurrency market.

And in particular, Bitconnect has been issued with a Cease and Desist Order:

'On January 9, 2018, the Securities Division of the North Carolina Department of Secretary of State issued a Temporary Order to Cease and Desist to Bitconnect, BitConnect LTD, BitConnect International PLC and BitConnect Trading LTD ("BitConnect"). BitConnect was ordered to cease and desist from offering for sale, soliciting offers to purchase or selling, in or from North Carolina, any securities unless and until such securities have been registered and BitConnect, and any person or entity under the direction or control of BitConnect, is properly registered as a securities dealer or salesman. The Temporary Order to Cease and Desist found that BitConnect. was not registered as a dealer or salesman of securities in North Carolina and offered investments called the BitConnect Lending Program and the BitConnect Staking Program. The Temporary Order to Cease and Desist also found that BitConnect had omitted to disclose material facts when offering these investments in North Carolina. These activities are in violation of the North Carolina Securities Act. The Temporary Order to Cease and Desist gives BitConnect thirty (30) business days in which to request an hearing. If no such request is made during that time, the Temporary Order to Cease and Desist shall become final. Click here to view the Temporary Order.

Further information to follow soon so watch this space...


  1. Good morning, Recently I find out new ICO in early stage now regarding fraudulent activity based on MLM called GUARIUM based PONZI scams Team see on their white paper. Previous activist Amway Lyonnes SERVAQ Myadvertisingpays trafficmoonsun leaders try to going on blockchain. How we can stop them?

    1. Hi Anon, unfortunately the ICO's are the latest scams to make money from. Stopping them is incredibly hard, one closes down, two more take their place. All you can do is report them to whichever jurisdiction they belong to, and then shout out in social media to raise awareness of both the scam and the parasites that promote them.


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