Facebook Page CryptoFacts Owner Was Ordered To ‘Cease And Desist’

Spread the love
  • The Texas Securities Commissioner revealed that Nickolas Steele who is the owner of a Facebook page CryptoFacts has ordered to ‘cease and desist’ on charges today.
  • Per order, Nickolas Steele who is also popular with the name Nick Vop Steele and Nick Steele is promoting on the craigslist.org website.
  • Furthermore, sources revealed that cryptocurrency scammers have made fewer revenues since early March.

Facebook Page CryptoFacts Owner Was Ordered To 'Cease And Desist ...
The Texas Securities Commissioner revealed that Nickolas Steele who is the owner of a Facebook

page CryptoFacts has ordered to ‘cease and desist’ on charges today.  Steele cheated users by requesting to invest in a phony cryptocurrency scheme.

Steele advertising on the website seeking investments from users

Per order, Nickolas Steele who is also popular with the name Nick Vop Steele and Nick Steele is promoting on the craigslist.org website. Steele is seeking investments from the users of between $5,000 and $50,000.

However, he clutched money from the users by a professional account backed by a company named Nuvop Inc, controlled by Steele.

RECOMMENDED READ:  Cryptocurrency Losses Soar to $1.4 Bln Since COVID-19 Pandemic Started

Moreover, in February and March 2020, he earned a great profit on bitcoin trades through his craigslist advertisement. The scammer charges 20% of the trade consulting profit as his fees. Further, he promises them to pay at the end of the 12-month lock period.

Besides this, the state of Texas enlists many details during the write-up. The major issue with Steeles’s business is that he misleadingly flaunts his cryptocurrency trading ability. Ultimately, this results in huge losses for the clients.

Majority of funds gained through investment scams and Ponzi schemes

The watchdog of Texas is one of the most active state regulators in the crypto ecosystem.   A report shows that the cryptocurrencies activities that were not mentioned a few years back were in the hit list of the watchdog in 2019.

Furthermore, sources revealed that cryptocurrency scammers have made fewer revenues since early March. Between March 13 and March 31, a sum of daily value sent to cryptocurrency scams has dipped to 61 percent. Though, it has recovered gradually in early April.

RECOMMENDED READ:  Korea’s Largest Blockchain Project ICON to Integrate Band Protocol Oracles

Additionally, these funds were majorly connected to investment scams and Ponzi schemes. However, it represents a wide amount of the funds’ cryptocurrency scammers gained, but they disagreed for the full losses.

 158 Interactions,  2 today

READ ALSO:
Polkadot Market Analysis for 26th January 2021

Polkadot was one of the market's best earners in 2021, with the price action of the cryptocurrency speaking for itself. Read more

Crypto trader’s smart mining approach inside a BMW trunk

US-based crypto trader and miner Simon Byrne has six Nvidia RTX 3080s graphics cards in the trunk of his BMW Read more

Signal messaging service looking into privacy crypto payments options

Fast-rising messaging service Signal is rumored to be experimenting with a privacy crypto token. Privacy-focused chat app Signal is currently Read more

How to avoid U.S. trading hours to save few Ethereum gweis.

Anyone who used Ethereum in 2020 understands the annoyance of paying for gas, a metric that reflects the numerical weight Read more

RECOMMENDED READ:  USDT Towers Over 30 Stablecoins- Tether's Market Cap Grew by 2 Million Percent in Just Four Years

Leave a Reply

Your email address will not be published. Required fields are marked *

Contact Us

%d bloggers like this: