Key facts
- Texas regulators have halted an alleged crypto investment and MLM scheme.
- The scheme promised millionaire status, passive income, and high monthly returns.
- Promises were allegedly tied to recruitment and trading codes.
- Regulators cited withdrawal fees, investor lockups, and claims of low-risk, AI-assisted trading.
Texas regulators have taken action against an alleged cryptocurrency investment and multi-level marketing (MLM) scheme. The scheme reportedly promised participants the chance to become millionaires, generate passive income, and achieve high monthly returns. These promises were allegedly linked to recruiting new members and utilizing specific trading codes. The Texas State Securities Board's order also highlighted concerns regarding withdrawal fees, restrictions on investors accessing their funds (investor lockups), and claims that the trading was low-risk and assisted by artificial intelligence. The regulatory action aims to halt the operation of this alleged fraudulent scheme.