📝 Texas takes aim against three alleged crypto frauds

The Texas State Securities Board has released three emergency orders against cryptoasset related companies that are targeting users in the state. A cease-and-desist was issued against Russian based Coins Miner Investment Ltd. for targeting investors in Texas using deceptive tactics including falsely claiming to represent Coinbase and using an image of a meeting between an executive in the crypto media and Ripple while claiming the executive represented Coins Miner. A second order targeted DGBK Ltd., which presented a misleading video of Barack Obama alongside an offer to purchase their token, called DGBK, with claimed returns of 1,900 percent after a proposed ICO to be held next year. The final emergency order was issued against Ultimate Assets, which made promises that an initial investment of $1,000 would be worth $10,000 in just three weeks. According to the securities board these investments would be securities, but the firm is not registered with the state.