SEC Launched Fake ICO Website to Educate Investors

The SEC has created a fake ICO website to ensure investors can identify fraudulent company
17 May 2018   1382

The U.S. Securities and Exchange Commission announced on Wednesday it has launched a mock ICO called HoweyCoin. The fake company states that the offer isn't real and users who try to invest in the token sale will instead be redirected to the regulator's education tools, which are aimed at pointing out the signs of fraudulent token sales.

howecoin websiteHoweyCoin website

According to the HoweyCoin website, most travel businesses require processing, centralized currency, and most importantly, nickel and dime fees that add up to literally billions. The fake company states that it is different because it utilizes the latest crypto-technology to allow travelers to purchase all segments without these limitations, allowing HoweyCoin users to buy, sell, and trade in a frictionless environment.

In a press release, the SEC also noted that the site includes a white paper with a complex yet vague explanation of the investment opportunity, promises of guaranteed returns, and a countdown clock that shows time is quickly running out on the deal of a lifetime.

Owen Donley, chief counsel of the SEC's Office of Investor Education and Advocacy, said that the site incorporates many of the hallmarks of fraudulent token sales - pertinent information for investors looking to avoid financial pitfalls.

Donley added that fraudsters can quickly build an attractive website and load it up with convoluted jargon to lure investors into phony deals, but fraudulent sites also often have red flags that can be dead giveaways if you know what to look for.

GRAM May be Traded at Liquid at Triple ICO Price

Bloomberg says that Telegram tokens, that may appear at Liquid will be sold by Gram Asia at $4 per token, but there's no official info from Telegram
04 July 2019   830

Even before the official public release of the cryptocurrency of the messenger, Telegram can increase in price by 200% relative to its value during the initial offer of coins. It is reported by Bloomberg.

As previously reported, Telegram tokens may appear on the Liquid Bitcoin Exchange already on July 10. The distributor is Gram Asia, which calls itself the largest holder of GRAM tokens in Asia. It intends to put up for sale rights to cryptocurrency at $ 4 per unit.

At the same time, one of the investors said to the publication that at the time of purchase the price of 1 Gram was $ 1.33.

It is worth noting, however, that after the announcement of the public sale of Telegram tokens to Liquid, the media reported that this intention had nothing to do with the official plans of Telegram.

Then one of Telegram's investors stated that no one has the right to sell tokens before their official launch in accordance with the signed agreement. Moreover, representatives of the popular messenger noted that they first heard about Gram Asia.

Later, CEO Liquid Mike Kayamora admitted that Telegram has no relation to the placement on Liquid: the deal was concluded exclusively between the exchange and Gram Asia, which allegedly is an incubator for the TON project.

The Block's leading analyst Larry Chermak on several tweets expressed skepticism about the announced Telegram tokenale based on the Liquid stock exchange, saying that he would “think twice before making a decision to invest.”