In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
“Visa have today instructed us that we must close all WaveCrest issued Visa Prepaid Cards with immediate effect,” an email from WaveCrest states. WaveCrest had a license to issue Visa-branded credit, debit, and prepaid cards which was apparently yanked early in January.
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Instead, Monaco was trying to increase the value of its ICO; MCO, which apparently occurred on 19 June 2017. The idea was to use the claims about the Visa to raise Monaco’s price which apparently worked.
This sounds like “pump and dump;” a classic scam in which fraudsters issue fake claims to increase the value of a worthless stock they are selling. The difference is that pump and dump is being used to push ICO tokens rather than stocks here.
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