Arkbit crypto mining MLM fraud busted by Texas regulators

Arkbit falsely claimed to operate Arkansas-based data centers for cloud mining various cryptocurrencies.

The Texas State Securities Board has issued a cease and desist order against Arkbit Capital for engaging in fraudulent crypto cloud mining activities.

According to the order, the Texas State Securities Board, led by Financial Examiner Alexis Cantrell, found that Arkbit Capital and its affiliated entities engaged in fraudulent activities, including the use of deceptive image and video manipulation techniques to promote their investment plans.

Arkbit Capital, Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining (collectively “Arkbit”) falsely claimed to operate Arkansas-based data centers for cloud mining various cryptocurrencies.

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