The SEC has created a website with «fraudulent ICO» for the education of investors

The Commission on securities and exchange Commission (SEC) wants to ensure that investors can distinguish between fraudulent initial placement of tokens (ICO) from the real — even if for it she would have to start selling tokens themselves.

The regulator announced on Wednesday the launch of the ICO under the fake name HoweyCoin, presumably named in honor of the Howey test, which «looks too good to be true investment opportunity,». However, the Agency notes that «the supply is not present.» Users who are trying to invest in the sale of tokens will instead be redirected to an educational page created by the controller, where the information used to identify fraudulent ICO.

According to the website HoweyCoin, most of the tourist companies «require payment processing, centralized currency, and, most importantly, the penny fee that would eventually turn into billions». On the site-forgery it is alleged that HoweyCoin beneficial different:

«HoweyCoin uses the latest cryptologia that allows travelers to shop without these restrictions. HoweyCoin users can buy, sell and trade in a free manner – regardless of whether they use HoweyCoin to buy the tour or as a freely traded investment.»

The site reported that investors will receive income in the amount of 1-2% and they are encouraged to adopt a «HODL» in imitation of the sites existing fraudulent or potentially fraudulent sales of tokens. The site also has reviews of popular stars and list of team members, thought-provoking, as it does not provides links to their social or professional profiles.

In a press release, the SEC also noted that the site has a «White paper with challenging but vague explanation of the investment opportunity promises guaranteed return of investment and a countdown timer that triggers as soon as possible to purchase».

Owen Donley (Donley Owen), the General counsel of the Department of education and the protection of investors, the SEC said that the site includes many distinctive features of fraudulent sales of tokens and related information for investors who want to avoid financial mistakes.

«Fraudsters can quickly create an attractive website and fill it beautiful and meaningless words to lure investors into bogus deals,» said Donley. «But, these sites have the classic signs of fraud, you will be immediately visible, if you know about them».

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