The Texas State Securities Board issued a stop order on February 26th on the Leadinvest website .com, citing a failure to disclose information about its activities as specialists and cryptocurrencies, as well as the fraudulent sale of unlicensed titles and globally " [threatening] immediate and irreparable prejudice."

Already in January of this year, the Texas State Securities Board sent two more notices of termination and discontinuance to crypto-related organizations: one to the Ponzi scheme Bitconnect for selling unlicensed securities, and the other at the AriseBank cryptocurrency bank for not being a bank. of this year.

This new cease and desist order begins by detailing how all of the LeadInvest staff photos are either stock images or images of other people who do not. has no association with the company.

<img alt=" Team "src =" http://cointelegraph.com/storage/uploads/view/9d3ffce2dd723326b21ee50b3c81c1f1.png "title =" Team "/>

The site is still active but contains older numbers for cryptocurrency prices, as quoting Bitcoin's (BTC) " all records of $ 1,000 " in 2014 as the latest price under "Cryptocurrency" "section, although different parts of the site have more updated numbers.

The termination letter adds that LeadInvest " Agents " are informed that they will receive a ten percent commission for all new customers who use their referral link, and that LeadInvest violates securities laws by " recruiting persons who are not registered with the Security Commissioner to act as his agents

. says that since their inception in May 2010, have moved their Bitcoin mining to Iceland because of access to geothermal and hydroelectric power. The letter of termination states that LeadInvest does not intentionally disclose any information about its mining facilities, as well as the risks associated with crypto mining.

Iceland is currently experiencing a crypto boom of minors coming into the island for this reason. According to data from the LeadInvest website, more than 190,000 accounts have been created and more than $ 177 million has been invested in their system. The Texas State Securities Board writes that LeadInvest has deliberately not disclosed the use of funds that investors have given.

The Commission's termination and discontinuance letter ends with " misleading and deceptive statements " Facts on the identity of LeadInvest associates and statements on the site Web who promise that investors abide by laws and regulations, what Texas says they're not.

LeadInvest must cease all activities related to the sale of securities, acting as a securities dealer, fraudulently offering securities and offering securities in a misleading manner, in accordance with the cease-and-desist order and to refrain

LeadInvest had not responded to requests for comments by the time press.