SC calls a halt to Lavidacoin promotional activities
By Digital News Asia September 5, 2018
- Investors are reminded to be cautious and exercise due diligence
- Lavidacoin is the brainchild of cosmetics entrepreneur Dr Hasmida Othman
THE Securities Commission Malaysia (SC) has issued a notice directing the promoter of Lavidacoin to cease all promotional activities in relation to Lavidacoin with immediate effect, pending further review by the SC into the matter.
DSV Crypto Club, LUX Galaxies and VI Profit Galaxy, who were found to be promoting Lavidacoin, were also added to the SC’s Investor Alert List at www.sc.com.my.
Investors are reminded to be cautious and exercise due diligence before participating in any investment schemes, in particular those involving cryptocurrencies and digital tokens.
Lavidacoin is the brainchild of millionaire cosmetics entrepreneur Dr Hasmida Othman, better known as Dr Vida.
On Aug 27, the SC announced that it was reviewing all available information in relation to LaVida Coin to determine whether there has been any breach of securities laws.
On Aug 29, Bank Negara Malaysia reported that it had listed VI Profit Galaxy (DSV Cryptoclub and LUX Galaxies), the operator behind LaVida Coin, in its financial consumer alert list.