Chinese regulators are investigating allegedly an exit scam in which cryptocurrency exchange was involved in, Yahoo! Finance reports.
According to Yahoo! Finance, EtherDelta is involved in the scam sale of ERC-20-based tokens native to the exchange, called EtherDelta Tokens (EDT). The total amount of raised investments is reportedly equal to $176,000.
Yahoo! Finance highlights ICO-scam providers used EtherDelta as a front to issue their own ICO for the token but have gone with the raised funds.
Last year, the U.S. Securities and Exchange Commission (SEC) filed charges against the founder of the crypto trading platform EtherDelta Zachary Coburn in the operational management of the unregistered exchange for the sale of securities.
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