The SEC created a satirical cryptocurrency site called HoweyCoins to warn investors about ICO scams

markets.businessinsider.com | 5/16/2018 | Staff
gbabii05 (Posted by) Level 3
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HoweyCoin, a satirical ICO website made the the US' top securities regulator, is a warning against scams.

The site, which even features a nine-page whitepaper, eventually points people to a more educational page.

HoweyCoins - Think

If you were thinking about investing in HoweyCoins, think again.

And if you've invested in anything resembling the satirical HoweyCoins, you might be a fraud victim, the Securities and Exchange Commission said Wednesday.

Agency - Website - Cryptocurrency - Paper - Virtues

The agency created a satirical website for the cryptocurrency, complete with a nine-page white paper extolling the virtues of this new technology, as a warning to investors of what to watch out for when investing in blockchain projects.

“The rapid growth of the 'ICO' market, and its widespread promotion as a new investment opportunity, has provided fertile ground for bad actors to take advantage of our Main Street investors," Jay Clayton, the agency’s chairman, said in a press release.

Technologies - Investors - Fraud - Site

"We embrace new technologies, but we also want investors to see what fraud looks like, so we built this educational site with many of...
(Excerpt) Read more at: markets.businessinsider.com
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