Texas Securities Commission has issued a cease and desist order to Arkbit Capital, accusing it of engaging in fraudulent cryptocurrency cloud mining activities. According to the order, the Texas Securities Commission found that Arkbit Capital and its affiliates engaged in fraudulent activities, including using deceptive images and video processing techniques to promote their investment plan. Arkbit Capital, Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining (collectively referred to as "Arkbit") falsely claimed to operate a data center in Arkansas for cloud mining various cryptocurrencies. The company promised a daily return on investment of 1.6-2.8% for deposits of digital assets between $50 and $49,999 for 120 days. The order also accuses Arkbit Capital of using payment processor CoinPayments.Net to facilitate payments for its investment plan, despite CoinPayments.Net's policy restricting users from certain jurisdictions (including the United States).