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Screenshot of a breaking news alert e-mail from Q2 2017
The Ontario Securities Commission (OSC) has warned investors about BTCReal, BitSerial, Hypercube Ventures LP, CabinCoin OÜ, and BaapPay Inc. These firms appear to be involved in schemes that target Ontario investors and encourage them to trade or invest in cryptocurrencies.
BTCReal, BitSerial, Hypercube Ventures LP, CabinCoin OÜ, and BaapPay Inc. are not registered in Ontario to solicit investments or provide advice on investing in, buying or selling securities.
BTCReal manages the website btcreal.biz, where it claims to provide full investment services for cryptocurrency-related investments and forex. BTCReal claims it can provide investors with high returns in short periods of time.
BitSerial operates the website bitserial.io, which claims to offer opportunities to invest in “BTE Tokens.” BitSerial’s website also encourages investors to participate in a lending program where they can exchange Bitcoin, Litecoin, or Ethereum for BTE Tokens that are “lent out” for high returns.
Hypercube Ventures LP manages the websites hypercube.vc, hypercube.fund, vnn.money and vnn.cash, which encourage investors to buy “emission pools” for the purpose of generating “VNN cryptocurrency.”
CabinCoin OÜ operates the websites cabincoin.com and cabincoin.exchange, and is currently advertising an unregistered token sale for “CabinCoin Tokens.” CabinCoin claims that the future value of these tokens will far exceed their initial price.
BaapPay Inc. manages the website baappaytoken.com, and is also currently advertising an unregistered token sale.
Any distribution to an Ontario resident requires a prospectus or exemption from the prospectus requirement, which Bitserial, Hypercube, CabinCoin and BaapPay do not have.