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Suspected crypto scam Bitcoin Revolution blacklisted by the MFSA

Jan 28 2019
By
Jonathan Smith

 

The Malta Financial Services Authority (MFSA) updated its warning list with the Bitcoin Revolution last week. The MFSA stated that this entity is not a Maltese registered Company nor licensed or otherwise authorised by them to provide any investment or other financial services in the country.

 

The Bitcoin Revolution 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,” the regulator warned in its announcement.

 

According to the MFSA, the Bitcoin Revolution operates via https://the-bitcoinrevolution.o and several other websites. It also promotes itself by means of adverts and pages on various social media platforms linking the website to some prominent Maltese personalities without their consent. Besides, the website falsely reports profits made by these individuals.

 

Bitcoin Revolution is actually an old crypto robot scam that keeps changing its domains (among which Bitcoin-revolution.com, and bitcoinrevolutionapp.com). It was also blacklisted by the Financial Markets Authority (FMA) of New Zealand.  Such fraudulent websites are specifically designed to hook crypto enthusiasts with a promise of quick and easy buck, but if you do register, you will simply be transferred to some scam forex broker. Of course, the people behind the robo scam website will get their commission for setting you up.

 

As usual, the Maltese financial watchdog strongly advises investors to check whether a certain financial services provider is authorized to provide such services by the MFSA or another European financial regulator prior to making any investment or entering into any financial services transaction.

 

TAGS: MFSA  the Bitcoin Revolution  warning  Malta  crypto robot  scam 
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