The Texas Securities Commission issued a cessation order against two fraudulent cryptocurrency companies

The law enforcement department of the Texas Securities Commission is conducting a second round of investigations into suspicious cryptocurrency investment products. On Monday, Texas officials took emergency enforcement actions against PK Crypto Investment and Crypto Miner Limited (aka Cyp Miner). The cessation order details suspicious cryptocurrency fraud activities, allegedly touting profits while ignoring significant risks. The State Securities Commission reported that the scam involves various strategies to trick consumers, such as fabricating company records, addresses, licensing for the registration and sale of securities, misappropriating similar images of other businesses, and making fraudulent statements about financial statements. The State Securities Commission has taken a total of 25 enforcement actions against 79 organizations suspected of involvement in illegal and fraudulent cryptocurrency programs.