RATE Group | Texas Hits Cryptocurrency Mining Firms with Cease and Desist for Fraud
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Texas Hits Cryptocurrency Mining Firms with Cease and Desist for Fraud

08 Nov Texas Hits Cryptocurrency Mining Firms with Cease and Desist for Fraud

Posted at 10:55h in Cryptocurrency News by

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Texas executed regulatory action recently against two cryptocurrency mining companies. The Securities Commissioner for Texas sent EXY Crypto (also known as Execrypto) and AWS Mining PTY LTD. cease and desist letters based on fraudulent activities.

EXY Crypto

Texas order number ENF-18-CDO-1771 against EXY Crypto specifically names Morgan Nolan, Rafael Logan, and Melissa Spring as involved in the ordeal.

EXY Crypto, including the above-named persons, allegedly offered investments in their cryptocurrency mining program. According to the Texas order, “[t]he advertisements tout the security of the cryptocurrency investments and claim investors will earn at least a 10% return or more on a weekly basis”.

The investors were led to exycrypto.com, or urged to contact the above-mentioned individuals via email or WhatsApp, a popular messaging and calling app.

Nolan informed potential investors that EXY Crypto was “a properly licensed and regulated…

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