Bitcoin Future warned as possible scam by New Zealand FMA
New Zealand financial regulator the FMA has issued a warning regarding an entity called Bitcoin Future.
The regulator stated that it is concerned that Bitcoin Future has the hallmarks of a scam. It recommends exercising caution before dealing with this entity as it is not a registered company or financial service provider in New Zealand. However the FMA did not give either a website url or contact email, nor other suspected contact methods of Bitcoin Future.
The New Zealand regulator also pointed out that the Malta Financial Services Authority (MFSA) has previously cautioned the public about Bitcoin Future, back in October 2019.
At the time the MFSA stated that it had become aware of an entity by the name of Bitcoin Future. This entity appears to present the same deceitful characteristics as another entity, Bitcoin Revolution, against which the MFSA has already issued public warnings on 25 January 2019 and on 29 August 2019.
Such entities have been constantly resurfacing on the internet as adverts, and are operating under various names. These fake adverts claim to provide a “Way to build your life better” and a “Unique opportunity for Maltese”, and were operating through a number of bit.ly internet addresses, none of which today seem operational.
The MFSA stated that Bitcoin Future is promoting itself by means of fake news articles which misuse images of local personalities and images of local government institutions. The fake articles are advertised on various social media platforms and falsely claim to be linked to these individuals.
Bitcoin Future is not a Maltese registered Company, neither is the entity operating under the transitory provision in terms of Article 62 of the Virtual Financial Assets Act (Cap 590 of the Laws of Malta) nor is it authorised to provide any financial services in or from Malta.
Furthermore, information available to the MFSA suggests that Bitcoin Future is likely to be an international “get-rich-quick” cryptocurrency scam. The public should therefore refrain from undertaking any business or transactions with the entity operating under the abovementioned names.