An audacious new scamming syndicate is targeting cryptocurrency investors by imitating a legitimate firm supervised by the U.K.’s Financial Conduct Authority (FCA), the regulator said.
The “clone” outfit has been emailing and cold-calling investors and impersonating Gain Capital UK Limited by attaching that (legit) company’s Firm Reference Number to a fake name, “Blockchain Recovery Association,” an FCA blog post states. (To be clear: Gain Capital UK Limited is a real company that is authorized by the FCA to carry out certain services.)
“Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm,” the FCA said.
“Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. [The Blockchain Recovery Association] is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm.”
The fake firm has listed its address and…