Education

The North Dakota Securities Department issues a warning about "fake investment education" cryptocurrency scams

ChainCatcher news, according to News.bitcoin, the North Dakota Securities Department has issued a warning that some "investment education foundations" claim to teach investors about cryptocurrency and stock knowledge, but are actually scams. These scams use deceptive tactics, including "risk-free" trials and fake loans, to persuade victims to invest and pay excessive commissions.These scams often start with social media ads that lead potential victims to WhatsApp groups operated by fake founders and automated bots. In these groups, the so-called founders offer investment courses and then introduce a fraudulent cryptocurrency exchange. Investors initially receive "free" tokens to test an AI trading bot, which falsely generates profits.Encouraged by the illusion of success, people deposit real money, and if they are short on funds, the scammers direct them to fake loan providers on Telegram. These loans are directly credited to the fraudulent exchange, but victims soon discover that they cannot withdraw any funds unless they repay the loans or pay fake commissions. The scam freezes accounts under the pretext of regulatory issues, and then the scammers shut down the business and rebrand under a different name. To gain credibility, the scammers may present real government documents claiming registration with the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of the Treasury, and publish misleading articles online.

Ripple provides $50 million funding to establish the education-focused crypto association NCA

ChainCatcher news, according to The Block, the National Cryptocurrency Association (NCA) was officially established on Wednesday, aiming to help Americans better understand the cryptocurrency industry through its consumer education platform. Ali Tager, Vice President of Communications at NCA, revealed to The Block that NCA was founded by the cryptocurrency company Ripple and is supported by Ripple with a two-year funding of $50 million. She stated, "However, the field of cryptocurrency is very broad, and we look forward to other companies in the industry joining NCA's efforts." She also encouraged companies interested in participating in the initiative to reach out proactively.Despite being founded by Ripple, NCA stated that it is not controlled by any single company, but rather provides resources for anyone who uses, holds, or wants to learn more about cryptocurrency. NCA also emphasized that it is not a political or lobbying organization, but focuses on supporting the awareness and education of cryptocurrency. To ensure that NCA provides independent and impartial cryptocurrency education, Tager explained that NCA is a registered 501(c)(4) nonprofit organization, accountable to the best interests of consumers rather than product revenue or profit margins. Such organizations are primarily dedicated to promoting social welfare causes but can also engage in political activities, such as lobbying and advocacy, as long as politics is not their primary purpose. They are also not required to disclose their donors. Later on Wednesday, Stuart Alderoty confirmed that he has joined NCA as Chairman while continuing to serve as Ripple's Chief Legal Officer. Alderoty stated, "NCA is not a political organization—it's open to everyone and not limited to specific projects or protocols."
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