The UK Financial Conduct Authority (FCA) has issued warnings against a total of 18 crypto brokers and/or crypto forex brokers in the last three days before X-Mas alone. In addition, the “classic” FX & CFD broker scams also offer crypto products for trading. This shows us two things – on the one hand, the regulatory watchdogs are paying more attention to the crypto segment and on the other hand, crypto-based scams are sweeping over consumers like a tsunami. Stay super-alert!
In the last five years, many binary options, forex, and CFD scams have used cryptocurrencies as a means of payment. This allowed them to bypass credit card networks and banks, and thus avoid chargebacks. Since the beginning of the last crypto bull cycle in the spring of 2020, we now see crypto financial products being offered for trading on illegally operating online exchanges. Most of them are not only operating without authorization but are also scams, i.e. fraud schemes.
Below is the list of UK FCA warnings against Crypto Ventures between December 21 and 23, 2021:
|Crypto Brokers (report)||https://www.crypto-brokers.de||BaFin warning|
|Invest Crypto Expert||https://investcryptoexperts.com/||FCA warning|
|LegalCryptoFX Trading||https://legalcryptofxtrading.com||FCA warning|
|CryptoInvest Gain||https://cryptoinvestgain.com||FCA warning|
|Canaan Crypto Invest||http://canaancryptoinvestment.com/||FCA warning|
|CryptoFX Trades||www.cryptofxtrades.online||FCA warning|
|CryptoDaily Market||https://cryptodailymarket.com/||FCA warning|
|CryptoWell MinerFX||http://cryptowellminerfx.com/||FCA warning|
We will continue this list of regulatory warnings against crypto-based financial services providers and will also focus on this segment. If you have any information on crypto providers, please share it with us. You can use our whistleblower system Whistle42 for this purpose.