The Texas State Securities Board has slapped a cease and desist order on Arkbit Capital, accusing it of fraudulent crypto cloud mining activities. The firm, along with its affiliates, allegedly used deceptive image and video manipulation techniques to promote its investment plans. Arkbit Capital falsely claimed to operate Arkansas-based data centers for cloud mining various cryptocurrencies, promising daily returns of 1.6-2.8% for 120 days on digital asset deposits between $50 and $49,999. The order also alleges that Arkbit Capital used a payment processor, CoinPayments.Net, to facilitate payments for their investment plans despite CoinPayments.Net’s policy restricting users from certain jurisdictions, including the U.S. The public is urged to remain vigilant when dealing with social media investment opportunities.