Sydney crypto mining company to repay angry Texan investors

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crypto mining

A Sydney-based crypto mining company caught up in an international legal stoush has been ordered to repay investors in Texas.

AWS Mining, also known as MyCoinDeal, was first hit with a Cease and Desist Emergency Order from Texan Authorities in November last year.

The company was guaranteeing investors a 200% return on the purchase price of crypto mining power contracts. A single contract priced at $400.

The Texas State Securities Board has now issued a new order, requiring 19 Texan investors be refunded the full value of contracts purchased.

“Respondents violated Section 7 of the Texas Securities Act by offering securities for sale in Texas at a time when the securities are not registered with the Securities Commissioner,” The order states.

AWS Mining Services appears to still be offering crypto mining contracts for sale on its website.

The company claims to operate cryptocurrency mining farms in China, Paraguay and Russia.

“Our goal is to make cryptocurrency mining accessible to all users regardless of age, location, investment, technical knowledge or experience,” The company’s website states.

According to Texan court documents the company’s registered office is in Sydney’s Martin Place.