Operation Cryptosweep has targeted nearly 70 fraudulent ICOs and crypto-related investments products since May 1.
On Monday, the North American Securities Administrators Association (NASAA) announced a coordinated investigation into fraudulent cryptocurrency investments. The investigation, known as Operation Cryptosweep, began on May 1 and has already led to almost 70 separate investigations as well as 35 enforcement actions. More are expected.
“Despite a series of public warnings from securities regulators at all levels of government, cryptocriminals need to know that state and provincial securities regulators are taking swift and effective action to protect investors from their schemes and scams,” said Joseph P. Borg, NASAA president and director of the Alabama Securities Commission, in a press release.