The SEC Launches Fraudulent ICO Project
The US Securities and Exchange Commission (SEC) launched the promotion of the HoweyCoin ICO project. The project itself is fraudulent. Thus, the regulator intends to demonstrate to potential investors how the attackers work.
In the official report of the SEC, attention is drawn to the fact that the project itself does not exist. Users who are really trying to invest through the site are on the page with the SEC leadership, which is designed to warn against fraudulent token.
According to representatives of the regulator, the site embodies a project that is "too good to be real."
"A lot of travel companies need data processing, centralized currency and, most importantly, commissions, of which billions of dollars are being built up. HoweyCoin uses the most up-to-date developments from the world of crypto technologies to provide customers with the opportunity to purchase in any segment without restrictions!", - says the website.
The project has a White Paper with a blurry and very complex description of why customers should invest in it. They promise a profit of 1% -2% a day. On the main page is a countdown timer, after which "investors will miss the best offer in their life."
Also on the site of HoweyCoin are members of the development team, to verify the real existence of which is impossible. There are no direct links to pages in social networks or summaries, as is customary in the world of scam-ICO.
The head of the Department of Education and Investor Protection of the SEC, Owen Donley, in his comment stated that in the project HoweyCoin they tried to collect all the signs of a fraudulent ICO project to show investors what to look for in the future.