Cryptosecure became a casualty of operation Cryptosweep, and John McAfee was quick to tweet his disapproval - based on reports for receiving a Cease and Desist order.
Cease and desist orders have been the most efficient tool for wiping out projects for which regulators had doubts. Similar approaches were taken to deal with any project from BitConnect, Davor Coin, Bitcoiin, and many others.
But in this case, Cryptosecure was only undergoing an audit. And John McAfee apologized:
https://twitter.com/officialmcafee/status/999383107269775360
The team itself clarified the issue:
“CryptoSecure has not been served with any Cease and Desist Notice from New Brunswick Financial and Consumer Services Commission,” the team stated. “We also have serious objection to the NASAA inference, through their first two paragraphs of their release, that CryptoSecure is in any way fraudulent.”
Any project or coin elevated by John McAfee’s Twitter does not go without noise and drama. Despite the efforts to read white papers, the Twitter handle @officialmcafee has touted dubious ICOs that performed an exit scam, as well as coins that face criticisms, Verge (XVG) being the most prominent example.
The latest round of hype was for Docademic (MTC), which is up 90% since last week, to $0.13.
https://twitter.com/officialmcafee/status/999629004201254914
As for Cryptosecure, a project aiming at increasing protection against coin theft, the McAfee team commissioned a report outlining the robustness of the project. Yet after the news of Cryptosweep, some of the McAfee followers turned to attack mode, with discontent about being offered yet another risky asset.
The Cryptosecure ICO still has about seven ways to go until the end of the first round with the highest bonuses. But the token sale will be protracted, with three rounds in total stretching into July. The ICO is already halfway to its soft cap of 2,000 ETH.
The Cryptosecure project offers a functioning wallet which allegedly performs lag-free Bitcoin transactions. However, it is unknown how much centralization has been used to make this possible.
This article appeared first on Cryptovest