{"id":28942,"date":"2020-09-21T11:42:20","date_gmt":"2020-09-21T08:42:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=28942"},"modified":"2025-08-27T14:10:16","modified_gmt":"2025-08-27T11:10:16","slug":"stripe-to-pay-120000-in-connection-with-plexcoin-cryptocurrency-scheme","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/stripe-to-pay-120000-in-connection-with-plexcoin-cryptocurrency-scheme\/","title":{"rendered":"Stripe to pay $120,000 in connection with PlexCoin cryptocurrency scheme"},"content":{"rendered":"<p>The Massachusetts Attorney General&#8217;s Office will refrain from prosecuting Stripe, the payment processor, in the case involving participation in the PlexCoin ICO scam. The settlement will cost the company $120,000, according to the department&#8217;s <a href=\"https:\/\/www.mass.gov\/news\/payment-processor-to-pay-120000-in-connection-with-cryptocurrency-scheme\" target=\"_blank\" rel=\"noopener noreferrer\">\u043f\u0440\u0435\u0441\u0441-\u0440\u0435\u043b\u0438\u0437\u0435<\/a> \u0432\u0435\u0434\u043e\u043cstva.<!--more--><\/p>\n<p>According to the prosecutor&#8217;s office, PlexCoin founder Dominique Lacroix used Stripe accounts to conduct his scheme. Through it, the project&#8217;s organizers misappropriated funds from 22 investors.<\/p>\n<blockquote>\n<p>\u201cStripe knew or should have promptly discovered the fraud to prevent harm to Massachusetts residents. The service failed to do so due to inadequate controls,\u201d the statement notes.<\/p>\n<\/blockquote>\n<p>To close the matter, the company will pay $120,000. The prosecutor&#8217;s office emphasized that the settlement requires Stripe to provide regular employee training and implement security protocols.<\/p>\n<p>Earlier, the Canadian Plexcoin project positioned the PlexCoin (PLX) token as the successor to an outdated Bitcoin. Lacroix promised investors a thirteenfold return on their investments.<\/p>\n<p>In December 2017, the U.S. Securities and Exchange Commission froze Lacroix&#8217;s and PlexCorps&#8217; accounts on suspicion of $15 million fraud. The project founder also received two months in prison and a fine for contempt of court.<\/p>\n<p>Earlier in April, Ripple sued YouTube after fake XRP token giveaways appeared on the service. The platform said it was not responsible for third-party actions.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Massachusetts Attorney General&#8217;s Office will refrain from prosecuting Stripe in the PlexCoin ICO scam case. The settlement will cost the company $120,000, according to the department&#8217;s press release.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[319,1948,1519],"class_list":["post-28942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ico","tag-plexcoin","tag-stripe"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/28942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=28942"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/28942\/revisions"}],"predecessor-version":[{"id":28943,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/28942\/revisions\/28943"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=28942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=28942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=28942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}