Hey ninjas, how’s the trading? The largest cryptocurrency Bitcoin is reporting gains of over 2% on the day as it nears $12,000. Most of the top 20 cryptocurrencies are reporting losses, crypto’s like Bitcoin Cash, Ethereum, Ripples XRP, and Litecoin are all reporting moderate losses on the day.
Operation Crypto Sweep
This is an attempt by international governments to track down and put an end to fraudulent cryptocurrency investment schemes and initial coin offerings. The operation is being coordinated by the North American Securities Administrators Association (NASAA), the United States and Canadian State and provincial securities are also participating in the sweep. In a news release on the 7th of August, orders from the Office of the Attorney General in New Jersey was announced.
In the course of tracking down fraudulent activities in the crypto-verse, it was discovered that Zoptax is offering its investors unregistered cryptocurrencies (Zoptax coins) in form as an ICO (initial coin offerings).
Up until the stop, the order was issued the company claimed that the ICO had a soft cap of $500 and a hard cap of %3.4 million. In addition to not being registered with the Bureau, Zoptax reportedly broke laws even further by making false and misleading statements with the offer and sale of its coins, its physical address and principal place of business and how the funds raised by the ICO will be used.
Much like Zoptax, it was revealed that Unocall had also been offering its investors unregistered cryptocurrency in the form of an ICO. Unocall offered the tokens in order to raise funds to build an “ecosystem” so that its users could trade Unocall Tokens, altcoins and fiat currencies with the company’s digital wallet UNOpay.
UNOpay website also offered potential investors a guaranteed interest daily ranging from 0.18% - 0.88% though its staking program. In addition to not being registered with the Bureau, Unocall reportedly broke laws even further by making false and misleading statements with the offer and sale of its coins, its physical address and principal place of business, the identity of its principals and the person or person’s that developed the Unocall.Don’t always forget to holla at Ninja Discord anytime to talk about cryptocurrency. You can as well check out our exclusive Ninja coin giveaways and Trading View analysis.