Authorities in Texas have issued a stop and desist order in opposition to an alleged crypto scammer working on Craigslist.In response to an Aug. 7 announcement, the Texas State Securities Board (SSB) enforced an emergency motion in opposition to New York-based purported funding supplier Foreign exchange and Bitcoin Dealer. The SSB states that that is the fourth such motion because the regulator began a second investigative sweep of suspect fraudulent crypto choices in late June.Purported funding returns of 900%In response to the Emergency Stop and Desist Order, Foreign exchange and Bitcoin Dealer was promoting its funding scheme on Craigslist Dallas, promising a 900% return in 14 days.Other than selling a crypto funding scheme promising a $20,000 return from a principal funding of $2,000, the entity falsely claimed to be a licensed dealer that’s approved to commerce securities, international forex and derivatives, the order reads. As found by investigators, Foreign exchange and Bitcoin Dealer isn’t registered with the Securities Commissioner as a seller or agent.Foreign exchange and Bitcoin Dealer was reportedly deceptive buyers by claiming that the corporate has an insurance coverage coverage and enough capital to ensure investor returns. Nevertheless, the report notes that the agency didn’t disclose any data both about its capital or insurance coverage coverage.Texas continues crackdown on crypto scamsAs said within the announcement, the Texas State Securities Board was the primary state securities regulator within the U.S. to enter an enforcement motion in opposition to a crypto-related agency. The authority has purportedly entered 24 administrative orders up to now, involving 62 people and entities.In January 2018, the Texas Securities Commissioner ordered a stop and desist injunction in opposition to notorious crypto rip-off Bitconnect for promoting unlicensed securities.Not too long ago, Cointelegraph reported on wave of pretend Libra accounts circulated throughout Fb and Instagram, posing as official entities for the not-yet-launched digital forex and even providing to spend money on it.