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US government Investigating 3 Bitcoin Companies for fraud

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The US Commodity Futures Commission (CFTC) said the company sued three different crypto-banking companies for allegedly cheating customers.

According to Arynews, CTFC, the controlling authority of the futures markets of the United States, is involved in both Bitcoin and other cryptographic currencies transactions, according to Cabbage Tech Corp. A company operating under the trade name Coin Drop Markets has also been sued for crypto money expertise on the grounds that it received money from its customers but never provided this service.

According to the New York District Court, another company was sued by the UK based Enterpreneurs Headquarters Ltd. It is claimed that the company financed $1.1 million worth of Bitcoin from 600 investors and formed a chain of happiness.

CFTC Director James McDonald said in a statement that Bitcoin and other crypto parasols have quickly gained new opportunities for increasingly public interest in malicious actors. The Coin Drop Markets website has been removed.

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