Colorado Authorities Go After Four More Fraudulent ICOs

The State of Colorado has issued cease-and-desist orders against four more projects engaged in ICOs. The projects, Global Pay Net, Cred, CrowdShare Mining and CyberSmart Coin Invest, attracted investors with promises of high earnings. The orders raise Colorado’s total in the crackdown to 18 ICOs considered fraudulent, among them the high-profile DavorCoin (DAV).

While token sales have slowed down dramatically, projects willing to directly defraud investors are still advertising themselves. Some of the ICOs are still operating their pages. CyberSmart Coin has pulled down its website, but Cred still offers the sale of a token through a functioning page. Global Pay Net has also discontinued its promotion, as well as CyberSmart.

This article appeared first on Cryptovest

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