Davorcoin Receive Cease and Desist – The New Bitconnect

DavorCoin is the new Bitconnect. Do not invest in DavorCoin it is a scam and you will lose money. DavorCoin, a cryptocurrency which aimed to be the next Bitcoin or Ethereum, has been raising red flags due to their lending program. The Texas State Securities Board has sent a cease and desist to the start up and demanded they stop operations in Texas.

Much like the infamous Bitconnect who had to close down their lending platform earlier in the year, DavorCoin promised investors they were guaranteed to earn large amounts of profits. Monthly returns of up to 48% were advertised, all while giving vague details of the process and that stating identities of its principals and headquarters could not released. The platform did not implement a KYC process either, which is usually the standard for organizations who are operating LEGALLY in the US.

When contacted by the State Securities Board’s Enforcement Division, DavorCoin responded to BitConnect’s closure by announcing “This does not change anything for us, we are now the number one lending platform in the world!”

The state of Texas was the first to order Bitconnect a cease and desist as well so it’s not surprising they are cracking down on fraudulent crypto ponzi schemes.

DavorCoin will no longer be able to operate in Texas and most likely in other states will follow suit. They will have 31 days to challenge the order before the State Office of Administrative hearings. At this point it is a safe bet to GTFO out DavorCoin.


Related Posts

You may like these post too

wsop crypto pantera capital

Crypto Hedge Fund Pantera Capital Giving Away World Series of Poker Tickets

crypto google ads

New Google Ad Jokes About the Sky-High Cost of Mining Cryptocurrencies

elizabeth white crypto

Cryptocurrency Fraud Case First to Rule Return Of Misappropriated Funds

Andreessen Horowitz’s a16z Crypto Fund Puts $15 Million Behind Stablecoin MakerDAO

Demand for Nvidia GPU Cards From Crypto Miners Declines

monero gold scam

Monero Gold XMRG Just Pulled An Exit Scam