{"id":52011,"date":"2021-10-29T16:13:17","date_gmt":"2021-10-29T13:13:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=52011"},"modified":"2025-09-03T02:46:46","modified_gmt":"2025-09-02T23:46:46","slug":"new-jersey-regulator-orders-closure-of-five-crypto-projects-with-signs-of-scam","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/new-jersey-regulator-orders-closure-of-five-crypto-projects-with-signs-of-scam\/","title":{"rendered":"New Jersey Regulator Orders Closure of Five Crypto Projects With Signs of Scam"},"content":{"rendered":"<p>The New Jersey Bureau of Securities <a href=\\\"https:\/\/www.njoag.gov\/new-jersey-bureau-of-securities-issues-five-orders-directing-website-operators-to-stop-offering-fraudulent-cryptocurrency-investment-opportunities\/\\\">directed<\/a> the management of Bulk Investments, Forte Trade, Dilna Investments d\/b\/a Fidelity Revenue, RealBitcore Mining and FilefxOption to cease operations.<\/p>\n<p>The document states that the firms &#8216;offer securities that are not covered by federal law and are not registered with the Bureau and are not exempt from such a requirement&#8217;. There is no mention of criminal charges.<\/p>\n<p>The regulator identified signs of fraud in the companies&#8217; operations. According to authorities, the projects attract investors by combining &#8216;vague&#8217; promises of high returns from &#8216;investment strategies&#8217;, false statements about registration, and fake reviews.<\/p>\n<p>The Bureau reported three users of Bulk Investments, Forte Trade, Dilna Investments d\/b\/a Fidelity Revenue, who were unable to withdraw their invested funds totaling $90,000.<\/p>\n<p>Earlier the Texas financial regulator <a href=\"https:\/\/forklog.com\/en\/news\/texas-state-securities-regulator-suspects-14-crypto-firms-of-fraud\">issued three emergency orders<\/a> to cease operations of 14 cryptocurrency companies suspected of fraud.<\/p>\n<p>In March, state authorities <a href=\"https:\/\/forklog.com\/en\/news\/texas-regulators-order-binance-assets-to-halt-operations-company-says-it-has-no-ties-to-the-exchange\">filed allegations<\/a> against three unregistered projects. One of them operated under the Binance brand of the Bitcoin exchange.<\/p>\n<p>The New Jersey Bureau of Securities, along with regulators in several other states, accused crypto-lending platforms<a href=\"https:\/\/forklog.com\/en\/news\/new-jersey-regulator-delays-september-start-of-blockfi-ban-on-new-bia-accounts\"> BlockFi<\/a> and<a href=\"https:\/\/forklog.com\/en\/news\/texas-and-new-jersey-regulators-accuse-celsius-network-of-selling-unregistered-securities\"> Celsius Network<\/a> of selling unregistered securities.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/twitter.com\/ForkLog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The New Jersey Bureau of Securities directed the management of Bulk Investments, Forte Trade, Dilna Investments d\/b\/a Fidelity Revenue, RealBitcore Mining and FilefxOption to cease operations.<\/p>\n","protected":false},"author":1,"featured_media":52012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"New Jersey regulator orders five crypto projects shut amid suspected fraud.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,26],"class_list":["post-52011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"New Jersey regulator orders five crypto projects shut amid suspected fraud.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/52011","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=52011"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/52011\/revisions"}],"predecessor-version":[{"id":52013,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/52011\/revisions\/52013"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/52012"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=52011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=52011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=52011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}