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SEC Cyber Unit Shuts Down First Ever $15 M ICO Scam

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The Cyber Unit organized by the Securities and Exchange Commission (SEC) has shut down its first “full-fledged cyber scam” attempting to con $15 million out of investors staking a claim in an initial coin offering (ICO) that started in August.

The Canadian company, PlexCorps, were selling securities called Plexcoin and swindling backers with false hope. They told investors that they would see over a 13,000% return on their investment in 30 days or less but were funneling the money for personal pleasures. The conclusion made by the unit was that “PlexCorps and the PlexCoin Token are a scam” and immediately froze their assets. The SEC is demanding the reimbursement of these funds along with interest and fines.

Read the article at https://scopeweekly.com/2017/12/05/sec-cyber-unit-shuts-firs…

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