Texas Issues Emergency Cease and Desist Against Arkbit’s Crypto Operations

The Texas State Securities Board has issued an Emergency Cease and Desist Order against Arkbit Capital and its affiliates, Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining. These companies were found operating a fraudulent MLM cryptocurrency investment scheme. Promising daily returns of 1.6-2.8% for 120 days on investments between $50 and $49,999, they lured investors through a sophisticated facade. The Cease and Desist Order revealed that Arkbit used for transactions despite user restrictions and manipulated social media content to appear legitimate. Their operations were based on deceptive practices, including fake videos and photos.

Source: Bitcoin

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