SEC Fiends Crypto Fraudsters With Fake ICO Campaign

By Hannah May 21, 2018 Digital Currency No Comments

In a breakthrough acceptance of technological development, the US Securities and Exchange Commission (SEC) has disclosed it will launch its own cryptocurrency- HoweyCoin- through an initial coin offering (ICO).

Well, this is not exactly the truth, yet the agency has come up with an excellent campaign with the hope of educating investors how to identify ICO frauds- and keep ways the fraudsters who keep on operating them.

In a statement titled “The SEC Has an Opportunity You Won’t Want to Miss: Act Now!,” the SEC revealed HoweyCoin and the token sale documents assure that the coin will leverage blockchain technology to revolutionize the travel industry.

Part of the eight-page whitepaper explains:

“HoweyCoins will spearhead this digital revolution into the travel industry by passing along the savings of cryptocurrencies to you. Because of its finite supply and dedicated use in the travel industry, it will be the coin of the realm of travel. These savings will be passed on to you and the earlier you get in on the HoweyCoins ICO the greater the discounts are going to be.”

According to the website, HoweyCoin is presently in the center of its ICO presale, leaving investors with not more than two weeks to buy their tokens at a 15 percent discount.

The token sale documents go on to promise investors that they will gain massive returns on their tokens, with a minimum growth rate equal to those of high-performing mutual funds.

“HODL! We also forecast a minimum growth rate in the range of 7% to 15% annualized, making HoweyCoins attractive for long-term investment. In addition, HoweyCoins can serve as a GUARANTEED hedge against inflation and market loss.”

HoweyCoin even has approval from athletes, social media influences, and other celebrities who are certainly the top authorities on the quality of the underlying technology.

But, the pleasure stops once investor click the “Buy Coins Now” link which rather leads them to an SEC investor education website that offers information on how to identify and avoid common ICO fraud.

“The SEC was able to build the HoweyCoins website in-house in very little time,” the agency said in a statement, “which demonstrates just how easy it is for someone to create a scam opportunity.”