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Fraud Bitcoin Ventures Using Authority Names to Attract Investors – FSC Cautions Public

The latest report released today indicates the concern of ‘Financial Services Commission (FSC) on ‘growing crypto swindles’. Consequently, one such scam bitcoin venture called ‘The Bitcoin Wealth’ misguided public to participate in the company’s offering.

Fake News Misguiding Investors – Regulators Warn Public

To catch the interest of investors and to pull out large funds, the said firm has fraudulently published an article on another media that claims ‘Barbados’ Ministry of Finance has finalized the deal of acquisition for $500 million with ‘The Bitcoin Wealth’.

The ministry adds that the claim was ‘completely fake’ and there wasn’t any investment as such. The firm is using the name of ministry and inviting investors to invest in its illicit dealings. Beside this, there were many such false outlets that are spread out across other countries by using the names of respective country’s regulators.

Following which, the Financial Service Commission (FSC) sent out the caution notice to…

Read Full Story : Coingape

2019-01-12 08:38:27

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