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5 state regulators allege organization is tied to Russia, scamming users using metaverse casino

Cryptocurrency May 11, 2022 06:40PM ET
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5 state regulators allege organization is tied to Russia, scamming users using metaverse casino

Authorities in the U.S. states of Alabama, Kentucky, New Jersey, Texas and Wisconsin have filed enforcement actions against the Flamingo Casino Club for allegedly perpetrating a scam through nonfungible tokens (NFTs) tied to a metaverse casino.

In a Wednesday announcement, the Alabama Securities Commission, Kentucky Department of Financial Institutions, New Jersey Bureau of Securities, Texas State Securities Board and Wisconsin Department of Financial Institutions alleged the Flamingo Casino Club has been “fraudulently soliciting NFTs” it claims are tied to ownership rights of a casino in the metaverse, thereby giving token holders a share of any profits. The organization has allegedly solicited investors directly through social media, recruiting influencers to promote NFT sales for the casino.

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5 state regulators allege organization is tied to Russia, scamming users using metaverse casino
 

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gab nea
gab nea May 11, 2022 11:14PM ET
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cryptocurrency hacks and scams continue unabated. losing all your money yet?
 
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