IEO financing is another investment scam? Bitcoin is a playground for criminals?

The voices of doubt about BTC and cryptocurrencies have never been reduced, whether they are from spokespersons of some relevant law enforcement agencies, or from some members of the cryptocurrency community that attack each other in order to maintain their respective camps, or from those who Ordinary people who are involved but who are particularly jealous are nothing more than that. For example, John Reed Stark, a lawyer who has worked in the SEC law enforcement for 20 years, recently said that Bitcoin is a scam that is only useful for promoting criminal activity.

In a column, Stark said the US Securities and Exchange Commission (SEC) will soon hit the first exchange (IEO), which he called the "unregulated cryptocurrency casino financing variant."

“The SEC plans to regulate the IEO”

Stark said that basically IEO is just another fake investment scam that is marketed by cryptocurrency (ie cryptocurrency exchanges), with the aim of using unsuspecting investors. However, he said that the American Stock Exchange realized that the IEO transaction has recently increased and will track down these transactions.

“IEO is another attempt to attract investors who want to get rich quickly by making a public attempt to sound like an IPO. But like ICO, IEO has nothing in common with IPO (except I and O) The two first and the last letters are the same."

Stark says that unlike regulated IPOs, ICO and IEO are virtually unregulated. Therefore, they are a medium for fraud, manipulation, insider trading, hacking and "widespread scams."

"Bitcoin is a playground for criminals."

At the same time, Stark also said that Bitcoin has no other use than criminal activities such as money laundering, terrorist financing and ransomware.

“The value of Bitcoin, in addition to being purely for speculation, is largely due to its ability to facilitate criminal activities. Does it require a false identity card, a bottle of opiates, a bunch of credit card numbers, or a Social Security Code (SNN)? Need a way to charge for extortion payments? Need to fund terrorism-related activities? Need to hire killers? Cryptographic currencies such as Bitcoin have become the payment choice for these and other criminal companies."

Stark believes that because of the low regulation of the cryptocurrency industry, this market has spawned "a growing number of global dangerous criminals."

As a result, he warned that retailers accepting cryptocurrencies would take risks in their own reputation and put themselves at risk of legal, regulatory, financial and ethical risks.

"The blackmailer requires payment in cryptocurrency"

Stark has served as the head of the SEC Internet Law Enforcement Office for 11 years. He now runs a data breach response and digital compliance company. According to Stark, according to his experience, the result of ransomware is that most companies will pay ransom. Recently, extortionists usually require encrypted payment.

“How do the victims of most ransomware attacks pay ransom? Of course Bitcoin – it's fast, reliable, verifiable, almost unregulated, and almost impossible to track. Bitcoin is the ideal tool for ransomware blackmail projects ""

"Criminal elements use bitcoin to tamper with elections"

Stark also pointed out that Bitcoin was recently used to manipulate elections. In July 2018, Special Prosecutor Robert Mueller accused 12 Russian intelligence officials of trying to influence the 2016 US presidential election.

The indictment states that the conspirators used Bitcoin to purchase servers and register domain names in an attempt to intervene in the election campaign. In addition, the indictment also states that the conspirators used bitcoin to “avoid a direct relationship with traditional financial institutions, enabling them to evade a more rigorous review of their identity and funding sources”.

Craig Wright: The value of Bitcoin will fall to zero

John Reed Stark's slamming sniper is similar to Craig Wright, a cryptocurrency entrepreneur who claims to be a bitcoin inventor. According to CCN, Wright has warned BTC's super fans and claimed that Satoshi Vision (BSV) is the real bitcoin, which will replace all other cryptocurrencies.

But before that, Craig claimed that the price of Bitcoin would fall to zero because Bitcoin is worthless and is only useful for money laundering and other criminal activities. Craig has publicly stated that:

“There is a day when people wake up and discover that the value of their BTC investment is decreasing, but it is zero. At this moment you see a bitcoin of $8,000, and the next moment global trade will be suspended. BTC’s real The market is zero. When it stops, it will end. Once such a system begins to break away from the legal structure that allows it to operate, it will build on the foundation of the sandy sand and eventually collapse. When it collapses, it will It can't be recovered."

Author | Samantha Chang

Compile | Jhonny

Source: Unitimes

[The copyright of the article belongs to the original author, and its content and opinions do not represent the Unitimes position. Translating articles only to disseminate more valuable information]