Mark Lagarde | FinTelegram News

Author: Mark Lagarde

April 19, 2021

Spanish CNMV issues warning against PrimeBit crypto trading platform

Spanish regulator CNMV has issued a warning against the self-proclaimed P2P crypto trading platform PrimeBit (www.primebit.com). This is allegedly operated by PrimeBit Ltd, registered in St. Vincent and the Grenadines. There you can trade the USD against BTC, ETH, and LTC. Customers can only deposit Bitcoin (BTC) and Tether (USDT) there. If you don't have any cryptocurrencies to deposit, the crypto exchange Changelly (www.changelly.com) is suggested for you to buy. PrimeBit seems to be a scam to us.

CNMV

April 8, 2021

Investor Warning – CityFX Capital broker scam with illegal US payment processor

The Spanish regulator CNMV has recently issued a warning against CityFX Capital (www.cityfxcapital.com). The scam is allegedly operated by Turtle Capital Ltd, which is registered in the Marshall Islands. As an illegal payment processor, we have discovered ER Expert Solutions LLC in the United States, which processes potential victims' deposits through its account at JP Morgan Chase Bank. The involvement of a US payment processor is astonishing.

April 3, 2021

Daily Affiliate Warning – Fake press articles on TopOnTechBiz promoting KeyFunders scam

We are almost rich! All we have to do is register real quick to open the doors to riches wide. The registration link takes us once again to TopOnTechBiz and the LPONLINE fake news site. A fake press article proclaims that a new startup can make us rich in 7 days. Signing up then takes us to The Bitcoin Revolution or Amazing Offers site to register. Finally, we are referred to the scam broker KeyFunders, which Paramaunt Holdings LLC allegedly runs.

Illegal Broker Activities

April 2, 2021

Investor warning – Lacari Group still active with its broker scams

Recently we have received complaints of victims of the FX-Capitalize broker scam operating with the domain www.fxcapitalize.com by Lacari Group Ltd, St. Vincent & the Grenadines. This offshore entity also operated the FXQuote247 (www.fxquote247.com) scam and operated vanished scams such as proFXCredit (www.profxcredit.com). Currently, no deposits are possible at FX-Capitalize and FXQuote247. The scam seems to be ready to disappear.

March 19, 2021

FCA warning against FXGbp Markets broker scam associated with the Latvian Racket

The UK FCA issued a warning against the FXGbp Markets broker scam operating with the domain www.fxgbmarkets.com. The legal entity behind the scam is allegedly International Markets Management Ltd, registered in London, United Kingdom. An interesting fact in that scam is that it claims to be regulated by the two private "regulators," irbem (here) and MFA (here). Bullshit, that is. They are not regulators. As a payment processor, we noticed again the operator of the domain www.transakcia.com (Transakcia) which is connected to the Forex & Crypto Technology Provider sanfrix.

March 12, 2021

FCA investor warning against Finexro scam operated by Stronex

UK regulator FCA has issued an investor warning against the scam broker Finexro (www.finexro.com) operated by Stronex Ltd in London. The website also gives an address in Cyprus. The scam evidently is not active anymore; no deposits are possible (error message "page not found"). According to UK Companies House, Stronex Ltd is operated by Bulgarian Toli Pavlov Varbanov, born in September 1968. The company was founded in October 2020.

Headlines

March 3, 2021

Trustpilot heads for billion-IPO on London Stock Exchange

The Copenhagen-based Reviews platform Trustpilot announced that it is considering an Initial Public Offering (IPO) in London that would see at least 25% of the company floated on the London Stock Exchange (LSE). According to Bloomberg, Trustpilot is seeking a valuation of around 1 billion pounds ($1.4 billion) in the IPO. It would be the first large post-Brexit IPO from an EU company in London, showing that the city is still attractive to foreign listings after Brexit. Trustpilot is a key company in the dawning European cybereconomy.

February 28, 2021

Bybit Review – Unregulated crypto trading platform earned itself an FCA warning

The UK FCA recently issued an investor alert against Bybit (www.bybit.com). This is an unregulated crypto trading platform in existence since 2018 that claims to have more than 1.2M users and is operated by Bybit Fintech Limited, registered in the British Virgin Islands. Dun & Bradstreet presents Ben Zhou, a Singapore resident, as the key principal who describes himself on his LinkedIn profile as Co-Founder and CEO of Bybit. While it may not be the best crypto trading platform, it has no regulatory permission, which is a serious violation but doesn't seem to be a fraud. However, be very cautious!

February 17, 2021

Let’s go crypto! Canadian regulator approved first two BTC ETFs in North America

Cryptocurrencies are the future, right? At least that's what many experts and visionaries like Elon Musk claim. Apparently, North American regulators are now also giving in to the crypto trend, finally approving the first crypto ETFs and thus facilitating entry of more institutional investors into crypto. While the U.S. SEC has not yet approved a crypto ETF the Canadian Ontario Securities Commission (OSC) has approved two Bitcoin ETFs within just a couple of days.

February 4, 2021

Cryptonomics – PayPal’s crypto trading volume exceeded expectations

Crypto has come to stay. Once again, there is a strong signal in this regard. And again from PayPal, which was already responsible for the 2020 crypto hype. On PayPal’s Q4 2020 earnings call, CEO Dan Schulman revealed that “the volume of crypto traded on our platform greatly exceeded our expectations." PayPal will continue to invest “significantly” in its new crypto, blockchain, and digital currencies business to “help share this more inclusive future,” in which everyone and not just affluent people have access to financial services.

February 1, 2021

FCA warns against social trading scams Copy Trade Capital and Premium Capital Trade

The pump-and-dump schemes around the Reddit forum WallStreetBets made social trading attractive. It was perfectly foreseeable that scammers were pouncing on this social media powered trading approach. Reports that the already more than 7.8 million members have beaten the Wall Street pros and created billions in market valuation virtually out of thin air is tantalizing. Today, the FCA warned against the Copy Trade Capital and Premium Trade Capital broker scams, which attack consumers mainly in the UK.

January 31, 2021

Investor Alert – FMA warns against CryptofundFX scam

Exploding crypto prices have made many consumers greedy. In their home offices, they often have enough time to fall over scam ads and engage in online trading. The high vulnerability of home office workers to scams is now well known. Law enforcement, regulators, and the scammers. With CryptofundFX (www.cryptofundfx.com), an aggressive crypto scam has been on the market for some time now and defrauds investors. The Austrian FMA issued an investor warning a few days ago.