FCA AsicTrader Scam

The British Financial Conduct Authority (FCA) has been mired in dealing with an uptick in scam artists attempting to take advantage of members of the public and convincing them to part with their funds.

The FCA reported on Friday that AsicTrader, a cryptocurrency broker, has been acting in a suspicious manner, in which it offers services to retail investors without having the licensing to do so. AsicTrader claims that it has offices in Scottsdale, however after reviewing the location, sources show that the address is actually shared by many different companies. Apparently, a service called Small Firms Service allows companies to use the address as their location for a fixed fee per month.

The platform also has a British phone number on its website, but when called, it was not active, suggesting that it is a fake phone number. The company is also owned by a broker called Hellax Corp. One individual has signed the company’s documents, but there is not much information about him.

Another firm, managed by Armenian residents Rubik Abrahamyan and Karen Avetisyan, seem to be connected to another scam of Cryptobank UK. At the end of the day, the similar tactics used in this situation to other scams make AsicTrader one to be wary of.

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