John Reed Stark, warns crypto scammers in a tweet

As reported by Cointelegraph, the United States Securities and Exchange Commission (SEC) is investigating crypto influencers who promote fraudulent projects and are found to be manipulating the prices of certain tokens through social media platforms. John Reed Stark, Former SEC chief, is expected to tweet a warning to crypto influencers for facing prosecution.

“Attention all crypto promoters who use social media to manipulate the price of crypto-securities: Fail not at your peril. Not only will you eventually get caught, but your prosecution will also be like shooting fish in a barrel. Whether manipulating the price of exchange-listed securities, microcap securities, penny stock securities or crypto-securities, the same anti-fraud rules apply. So get smart crypto-shills, because your days are numbered,” John Reed Stark, tweeted.