You have to give them credit, the SEC is at a minimum becoming more entertaining. The Office of Investor Education and Advocacy at the US Securities and Exchange Commission has launched a fake ICO site, according to a press release on May 16.
The fake site, HoweyCoins.com, is supposed to represent a fraud ICO which even comes with a fake whitepaper and guaranteed investment returns.
When a user clicks on “Buy Coins Now,” they are lead to the website Investor.gov, which was established by the SEC to help investors avoid fraud. The site warns that if users would have responded to an investment offer like HoweyCoins, they “could have been scammed.”
Count me as a fan. Anything that helps reduce ICO scams is great for the industry, and double points for being creative.