The Federal trade Commission (FTC) filed a lawsuit against two companies that allegedly cheated 30,000 people, thus confirming the seriousness of its intentions to prohibit fraudulent projects with cryptocurrency.
The focus of the FTC are aimed at protecting consumers and strengthening the legislative framework underpinning the alternative market. For this purpose, the Ministry has strengthened control over cryptoprotection, the result of which was found a large number of questionable projects, some of which was clearly a fraud. So, some projects offered huge profits, however, the structure of income depended on bringing to the platform an increasing number of users who, in turn, was to lead others – not that other, as an ordinary financial pyramid.
As stated by the FTC, as a result of illegal activities affected about 30,000 users worldwide. Against some involved in similar projects of persons have already been taken. In particular, a US Federal court has banned four people to conduct business in Florida. According to the lawsuit, these people are engaged in the promotion of fraudulent cryptocurrency projects on the popular platforms of social media like Youtube and Twitter.
Currently under the supervision of the government are two companies — Bitcoin Funding Team and My7Network, who said that can turn an ordinary hundred-dollar investment in the monthly income amount of $ 80,000. Despite the fact that such statements very hard to believe, the reality was quite prosaic, and actual payments, of course, have not reached the promised amount.
Governments and large companies are struggling to stem the flow of cryptocurrency scams. In the beginning of last week, Google has followed Facebook and announced the termination of posting on the platform ads related to bitcoin and cryptocurrency. Now joined Twitter.
Undoubtedly, the underlying Bitcoin technology can change the world, but currently in circulation is too much money, and it always attracts the seekers of a quick profit.