GAW Miners founder owes nearly $10M to SEC over Bitcoin fraud

arstechnica.com

40 points·lnguyen··8 comments

inb4 "it's all a pyramid scheme"

I welcome the SEC's enforcement of established rules on ICOs and going after scams. It will make the whole space healthier.

Puzzling why some obvious scams are going strong, though, such as this: https://mastercoinplus.com/

I mean, just read that FAQ! It's like a textbook case of identifying a pyramid scheme.

From the website: "Who is the founder? The founder is a master trading group and a team of marketing professionals guiding the company."

Not exactly inspiring confidence

> Security > Our site resides on a dedicated server

> SSL certificate > We use a certificate with extended validation (EV). This verifies that our company can be trusted.

And they are suggesting that they'll give over 200% returns yoy.

Nothing surprises me in this space anymore, since the HN user promoting a blockhain/currency for prostitution decided he’d offer equity, because fuck it.

Yeah... some people are just delusional.

Another obvious scam: http://laser.online

How could it be a scheme? Look they have ironclad proof:

"BitCoin 2010 WAS: $0.003" and "Bitcoin could hit $100,000 in 10 years." Arju Kharpal, CNBC

So buy whatever they're selling as long as they mention bitcoin on their site.

/sarcastic of course

Oh, the Paycoin guy. That was clearly a scam.

And this isn't even about Paycoin, but about his previous scam! I'm not sure Paycoin has come to regulatory attention yet ...

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