Brits warned over ‘crypto scam’

British cryptocurrency investors are being warned to stay away from a suspected scam firm by cash watchdogs

British cryptocurrency investors are being warned to stay away from a suspected scam firm by cash watchdogs.

The Financial Conduct Authority (FCA) put out a warning that crypto company Pro-options, which offers “profitable investment in Bitcoin”, may be an investment scam.

A Coin Rivet article for the Daily Express reports how the Pro-options website – which is riddled with spelling and grammar errors – features enthusiastic praise from so-called investors working for fictional firms like Skynet (from the Terminator films) and OsCorp (a Spider-Man reference).

One poorly-written endorsement states: “l have never seen a platform that pays really good like pro-options. thos is amazing.

“l thank every moderator here for helping me most especially to my account manager.”

Another states: “I’m so excited, I give gratitude to the entire staff of pro-options for I have received my profit of $4,000…thank you all especially to my manager.”


Crypto scams are on the rise

An FCA spokesperson said: “We believe this firm has been providing financial services or products in the UK without our authorisation.

“Almost all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorised by us.

“However, some firms act without our authorisation and some knowingly run investment scams.

“This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying out regulated activities which require authorisation.”

Pro-options has been contacted for a comment.

A Belgian financial watchdog has revealed that cryptocurrency scams are on the rise and is warning investors to be wary.

The Belgian Financial Services and Markets Authority (FSMA) recently updated its list of known cryptocurrency investment scams.

The number of fraudulent websites known to exploit trusting victims has risen to 131.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

Previous Article

Reserve Bank of Australia explores central bank digital currency

Next Article's Voice appoints former Forbes exec as CEO

Read More Related articles