The securities watchdog in Texas has issued a cease and desist order against an allegedly fraudulent platform posing as the cryptocurrency company Binance.

According to a press release on Tuesday, Securities Commissioner Travis Iles of the Texas State Securities Board entered the emergency order taking aim at an online cryptocurrency platform Delta Crypt Limited. The firm, listed with U.K. business registrar Companies House, was previously accused by the Philippines securities watchdog of "illegally offering securities" in April of last year.

Following the warning, Delta Crypt removed its website, but continued to operate as normal under new names including Binance Assets, BinanceAssets LTD and Bit Kind LTD, according to the release.

The regulator says Delta Crypt is currently advertising cryptocurrency investments through different plans, including a "Gold Plan" and a "Diamond Plan" promising 30%-40% returns on investment.

"The pitch is relatively simple – invest a little, gain a lot and don’t worry about risk," the Securities Board said.

See also: Texas Financial Regulators Crack Down on 15 Alleged Crypto Scams

The regulator found the offerings by Delta Crypt to be "fraudulent and deceptive," accusing it of concealing information about its principles and the Philippine regulator's warning. The firm is also alleged to be "illegally soliciting sales agents" with promises to pay commissions irrespective of appropriate company registration or licensure.