According to Foresight News, the Texas State Securities Board has issued a cease and desist order to Arkbit Capital for engaging in fraudulent crypto cloud mining activities. Arkbit Capital falsely claimed to operate a data center located in Arkansas that mined various cryptocurrencies.
Securities Commissioner Travis J. Iles alleges that Arkbit Capital and its affiliated entities engaged in fraudulent activity, including the use of deceptive images and video manipulation techniques to promote its investment schemes.