According to an announcement on March 15, the target of the order is a business alleging to operate from the United Kingdom, which has previously been subject to an advisory warning from securities regulators in the Philippines. They had already warned that Delta Crypt was “illegally offering securities paying ‘ridiculous’ returns,” cautioning the public to stay away.
From that time, the business has apparently ditched its erstwhile name “Delta Crypt,” and launched an online investment scheme — while not being registered to sell securities in Texas — using different misleading brands like Binance Assets, BinanceAssets Ltd and Bit Kind Ltd. The TSSB summarized the schemes:
“The pitch is relatively simple – invest a little, gain a lot, and don’t worry about risk. In fact, the ‘Gold Plan’ pays a guaranteed 30% return, and the ‘Diamond Plan’ pays a guaranteed 40% return.”
As reported by Cointelegraph, the TSSB has found that these offerings are “fraudulent and deceptive” and that Delta Crypt has concealed crucial information from its principals. It has also failed to warn investors against the risks associated with cryptocurrency investments and has illegally solicited its sale agents. This point implies the business pledged to pay commissions without regard for registration requirements or licensure.