Daily Traders Edge

The SEC Trolled ‘Coin’ Scammers So Hard

May 17
10:31 2018

Are you looking for a hot new investment? Well, hurry and sign up for HoweyCoins, an exciting opportunity that combines blockchain and luxury travel, and will deliver huge profits through an “Initial Coin Offering.”

The details of HoweyCoins are set out in a report on the website, and the project is being backed by a famous institution known as … the Securities and Exchange Commission.

That’s right. On Wednesday, the federal regulator raised eyebrows by putting out an unusual press release that urged investors to “Act Now!,” and publishing a mock website for HoweyCoins.

“HoweyCoins is the newest and only coin offering that captures the magic of coin trading profits AND the excitement and guaranteed returns of the travel industry,” gushes the website.

Here’s a screenshot of an early promotion offer from HoweyCoins:

The SEC’s new website serves to warn investors about the perils of Initial Coin Offerings (ICOs), which invite people to buy digital tokens that, in theory, can be used in a future online service. But in reality, many token sales—which became wildly popular last year—are no more than wild speculation and, in some cases, outright scams.

Continue Reading at Fortune

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