The UK Financial Conduct Authority (FCA) has issued a warning against crypto firm Poloniex.

The FCA warns that Poloniex may be promoting financial services or products without its permission. The public is advised to avoid dealing with this firm.

Firms and individuals cannot promote financial services in the UK without the necessary authorisation or approval. Poloniex is not authorised by the FCA and may be targeting people in the UK.

Unauthorised firm details

Name: Poloniex / Polo Digital Assets, Ltd – poloniex.com / poloniex.org

Address: Polo Digital Assets, Ltd. F20, 1st Floor, Eden Plaza, Eden Island, Republic of Seychelles

Email: support@poloniex.com

Website: poloniex.com / poloniex.org

Apps: https://play.google.com/store/apps/details?id=com.plunien.poloniex

https://apps.apple.com/us/app/poloniex-crypto-exchange/id1234141021

If you deal with this firm, you won’t have access to the Financial Ombudsman Service if you have a complaint.

You also won’t be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. This means it’s unlikely you’d get your money back if the firm goes out of business.