New Zealand Financial Authority Labels Crypto Gain, Russ Horn, and Zend Trade 3 Blockchain Scams

2018-11-3 00:43

Financial Authority From New Zealand Blacklists Three Crypto Platforms

Recently, the Financial Markets Authority (FMA) of New Zealand has decided to add three local crypto websites to its black list of online scams. The three companies were listed on November 1, Thursday. Their names are: Crypto Gaiun, Russ Horn and Zend Trade and they all are considered scams with a very high risk of making their clients lose all of their money.

Crypto Gain Posed As A New Zealand Company

From the three alleged scams, the most elaborate one was Crypto Gain. The company affirms on its website that it provides consulting services for investors who are new to the crypto world.

In the case of this company, New Zealand’s authority affirmed that the company was posing as a local regulated company without having the proper permission to do it and that they are not sure whether the company is even based in the country.

According to the authority, the site is not associated with New Zealand in any way and there are no representatives from Crypto Gain Limited officially in the company.

The company affirms on its website that it has a certificate of incorporation granted by the local authorities in August 2017. This is, however, not the truth.

FMA Also Blacklisted Several Other Scams Recently

Before these last three scams, the authority has officially blacklisted several other companies. For instance, early in October, the FMA blacklisted a larger list of companies that claimed to offer quick crypto solutions to get money. Two of these companies were Fix Club Limited and Bitcoin Revolution Trading.

While Fix Club Limited was focused on trading and it offered a platform for users claiming that it was regulated in New Zealand (which it was not), Bitcoin Trading Revolution was listed on the black list for reporting that members from the current and former government (including the two Prime Ministers and Treasury officials) were investing in Bitcoin, something was not true at all.

These allegations, in fact, came from a fake news site pretending to be the New Zealand Herald, the largest newspaper in the country, and were used for several illicit companies in order to fool potential traders.

Aside from blacklisting crypto companies, the authorities from New Zealand, including the police from the country, have been reported to ask traders to always seek regulated financial advice before they spend their money on online investments that they are unsure of.

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crypto zealand new three authority financial scams

Источник: bitcoinexchangeguide.com

crypto zealand → Результатов: 22


BitPrime Partners with Simplex to Provide a Solution to Buy Crypto with Credit Cards [Sponsored]

First-to-market crypto offering in New Zealand enables a safe and convenient way to purchase crypto using debit and credit cards by joining forces with Simplex. Christchurch, New Zealand – 26 November 2020 – BitPrime, New Zealand's leading cryptocurrency retailer, today announced it has partnered with Simplex, the market-leading fiat/crypto infrastructure provider.

2020-11-28 16:55


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New Zealand Shows Its Crypto-Friendly Stance, Invests $300k In Crypto Platform

New Zealand is known as a crypto-friendly country. The nation highlighted its stance once more with the government’s recent $300,000 investment into a local cryptocurrency platform. NZ’s Vimba Investment New Zealand’s government recently awarded a $330,000 grant to the cryptocurrency savings and trading platform Vimba, according to an NZ Adviser report.

2018-11-1 14:29


New Zealand Invests in Crypto Trading Platform, CEO Says Bitcoin Will Be Worth $600,000

The government of New Zealand has backed a local crypto savings and trading platform with $330,000 to expand its reach. Crypto Savings Firm Vimba Raises $330,000 from New Zealand Government Vimba, formerly known as MyCryptoSaver, originally founded as MyBitcoinSaver in 2014, is focused on crypto savings with a service that allows users to put their.

2018-11-1 01:00


New Zealand PM Used As Pawn In Fake News Site

Jacinda Arden, Prime Minister of New Zealand has had her face used by a fake news site in order to promote articles aimed at Facebook to encourage a crypto startup. A local media source, ‘Stuff’ reported on Friday that multiple sponsored posts have recently been promoted on Facebook by using the likeness of the New Zealand PM with headlines such as New Investment Plan For Kiwis which were targeted at several different age groups around the country.

2018-10-12 16:30


New Zealand Professors Advocate for Crypto-Friendly Blockchain Regulations

To make the country a hub of blockchain and cryptocurrency projects, the government of New Zealand needs to enact regulations for the local blockchain sector. This is the reason why professors at the University of Auckland recently published a report urging the local administration to establish a legal framework for the country’s crypto space. Reportedly, […]

2018-10-6 23:26


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The Central Banks Of Australia And New Zealand Against Cryptocurrencies

The trend of ‘central banks’ talking about cryptocurrencies is warming up once more, with The Reserve Bank of Australia (RBA) and The Reserve Bank of New Zealand (RBNZ) weighing in on the debate. The pair have moved to debunk rumours that they are investigating in establishing their own central bank digital currency, on the basis that they believe such a project would inevitably damage their current banking system.

2018-6-26 17:00


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