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According to the order of termination of the emergency and emergency, Coins Miner is manipulating its solicitations by e-mail to make them appear as if they came from consolidated companies.
The Texas Securities Commissioner Travis J. Iles undertook an emergency action to stop the activities of a scheme related to cryptocurrency. The commissioner entered a suspension and withdrawal order against Coins Miner Investment Ltd., a cryptocurrency investment promoter operating in Russia.
It turned out that Coins Miner was soliciting funds from Texas residents by pretending to represent Coinbase, a San Francisco-based company that operates an online platform to buy, sell and preserve digital currency.
Ana Julia Lara, a person affiliated with Coins Miner, falsely claims to work in Coinbase as a cryptocurrency trader. Lara has sent potential photographers a picture of herself with the president of Ripple, a cryptocurrency and a transaction company, but the person identified as Lara is vice president of CoinTelegraph Media Group. Coins Miner also stole a video from a Fortune journalist to promote the offer.
The solicitation directs potential investors to a website managed by Coins Miner, in which the company offers investments in programs related to the extraction of cryptocurrencies. On the Coins Miner website he makes numerous false fraudulent statements to try and make his investment offer seem legitimate.
The company claims that it is based in the United Kingdom, but operates in the Russian city of Volgograd, says the Order.
The commissioner states that Coins Miner's investments are securities under Texas law, but the offers are not registered for sale in Texas and neither Coins Miner nor Lara are registered to sell securities.
In addition, Commissioner Iles entered a separate emergency suspension and desisted orders against DGBK Ltd., an offshore digital "bank" which claims to have developed hack-proof storage for virtual currencies; and Ultimate Assets LLC, an alleged cryptocurrency and trader in foreign currencies.
US authorities have tightened their grip on fraud related to cryptocurrency. In August of this year, the North American Securities Administrators Association (NASAA) provided an update on the progress of state and provincial government regulators' efforts in the United States and Canada to stop cryptocurrency fraud.
Back then, NASAA said that over 200 active investigations on Initial Coin Offerings (ICO) products and cryptocurrency investment products are currently underway by regulatory authorities in the United States and Canada in the of "Operation Cryptosweep". Since its launch in May, this campaign has led to 47 enforcement actions involving ICOs or investment products related to cryptocurrency. At the end of May, the number of such actions was 35.
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