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The US SEC's Cyber Unit Launches Its First Fraud Case, Targeting PlexCoin's ICO

The US Securities and Exchange Commission launched a new cyber fraud unit earlier this year amid the internet's ongoing Bitcoin boom, seemingly telegraphing its intent to crack down on a cryptocurrency market rife with hacking, fraud and scams. The first thing on its agenda was likely always going to be initial coin offerings - a form of almost totally unregulated investment vehicle in which investors trade things of real value, such as cash, in exchange for stakes in cryptocurrency-backed startups.
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