Pumpkin Spice Blockchain

Well, actually nothing of the sort, but did I get your attention? The SEC is continuing to bring suit against ICO scammers. This one got my attention because (a) the scammers stuck the SEC seal on their website and tried to make out that they were a regulated entity and (b) said they could sell under Regulation A, when they hadn’t filed a Form 1-A with the SEC.

Two things here: First, these are dumb criminals. If you can’t work out that the SEC really likes its seal and takes it terribly personally when people who are not the SEC plaster it all over their offerings, or that it takes two seconds for folks to work out whether or not an offering has been qualified under Reg A, you really aren’t a criminal mastermind. But that leads to the second point, which is one reason those “Nigerian Prince” emails contain so many typos and errors is that they are deliberately formatted so that more sophisticated people instantly dismiss them as scams, leaving only the hapless suckers behind.

So maybe those blatant misstatements were part of a deliberate filtering mechanism to attract only the most susceptible investors? Or is the Blockvest team just dumb as well as venal?

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