Tag: CryptoFX

The U.S. SEC has announced charges against 17 individuals implicated in a massive $300 million Ponzi scheme orchestrated through CryptoFX LLC. This scheme primarily preyed upon over 40,000 investors, predominantly from the Latino community. This announcement follows a critical emergency action by the SEC in September 2022, which effectively dismantled the CryptoFX operation and brought charges against its leading figures, Mauricio Chavez and Giorgio Benvenuto.

On 14 March 2022, and like clockwork, the Italian regulator issued orders to blackout five websites illegally offering financial services bringing the total number of websites blacked out since July 2019 to 651. Regulators in other regimes can only issue warnings against illegal providers. Consob can order Internet providers to block their websites for the Italian market. It would be desirable if other regulators were authorized by their legislators to issue such blackouts. This would be an important step in the fight against cybercrime and scams.

The UK Regulator FCA has issued a public investor warning against CFD broker Scam BlueBird Options which is allegedly operated by St. Vincent and the Grenadines registered Bluebird Options Limited under the domain www.bluebirdoptions.com. The website claims that the company has a license from the FCA. This is nothing but a bold lie.