FCA warns a company about fraudulent ICO sales

UK Financial Conduct Authority (FCA) says fraudsters own swisscoinmarket.com use the data of a company they have authorized to deceive victims and sell them tokens.

In one warning The financial watchdog, released on Wednesday, said scammers operating as ICOs are using an approved company reference number (FRN) to look like legitimate business.

FCA warns a company about fraudulent ICO sales

FCA comparison between clone company and legitimate company

“Be aware that scammers may provide other false information or mix it up with some of the correct information provided by the registered company,” said the FCA. “You can change the contact information from time to time to a new e-mail address, telephone number or address.”

All companies and individuals that carry out financial services activities in the country must be approved or registered by the FCA. The watchdog strongly advises users to consult with FCA authorized financial firms and review the financial services register to ensure accuracy.

A similar case occurred in April when a fraud organization posing as Gain Capital UK Limited phoned and emailed investors under the guise of the Blockchain Recovery Association.

Thach Sanh

According to Coindesk

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