In pursuit of showing how easy it is to duped uninformed investors, the Securities and Exchange Commission (SEC) has launched a fake website which promoted an initial coin offering to investors.
As it considers the ICO process as rife with fraud and in violation of securities regulation, the effort had already been part of the agency’s mission to crack it down.
HoweyCoins, a certain website, already has all of the usual features of an ICO site which is also fully interactive.
On top of that, there is a pre-sale that served as a countdown clock offering a bonus for every investor to buy earlier than usual.
A linked white paper centered on the middle of the page, promotes the coin which happens to be designed for the travel industry.
There are even celebrity endorsements along with photos of the Howeycoins management team.
Along with the photos from Howeycoins management team, there are also celebrity endorsements with it.
As shown on this site, SEC stated that “fraudsters can quickly build an attractive website and load it up with convoluted jargon to lure investors into phony deals.”