POUR DIFFUSION IMMÉDIATE
July 21, 2020
INVESTOR ALERT:CrypTrade24
Bitcoin Trader Claims Northern Manitoba Residence as Canadian HQ.
Winnipeg – The Manitoba Securities Commission (MSC) is issuing an investor alert on CrypTrade24, a cryptocurrency exchange claiming it is legally registered in the Netherlands and operating from an address in Manitoba.
The firm’s website, cryptrade24.com>, promises up to a 200% return on investment (ROI) within 20 days, and boasts it has “…collected the best from the business of investment under a single virtual roof.”
That ‘virtual roof’ is a two-bedroom bungalow in Churchill, Manitoba.
“A 200% ROI in 20 days is a major red flag for fraud,” says Jason Roy, Senior Investigator with the MSC. “Not to mention, the address had me do a double take.”
An MSC call to the provincial government department that owns the building confirmed the small home in Churchill is currently unoccupied, but is occasionally used a residence for government staff travelling to Churchill for work. They have never heard of CrypTrade24, and no such company, or any other company, is operating from that address.
Following an investigation, MSC is issuing an alert on CrypTrade24 and cryptrade24.com. The company claims to be registered in the Netherlands and operating in Manitoba. CrypTrade24 is not, and never has been, registered to trade in securities in Manitoba. Staff of the Dutch Authority for the Financial Markets (AFM) have confirmed the company is not registered in the Netherlands either.
The British Columbia Securities Commission has also issued an https://www.mas.gov.sg/investor-alert-list?q=TorexFX&page=1&date=2020-01-01T00:00:00.000Z2020-12-31T00:00:00.000Z naming CrypTrade24.
“I’ve seen many offshore trading firms use fictitious addresses, including a Winnipeg parking lot,” says Roy, “Investors cannot rely on the look of a website to determine if it is legitimate, and they can’t rely on the how nice the person on the other end of the phone is. Investors need to make sure the person they are dealing with is registered to sell investments in Manitoba. It is the number one way to protect against investment fraud”
MSC advises anyone who is considering buying or selling an investment should practice due diligence: research the company thoroughly and/or talk to their registered investment advisor to ensure it is an appropriate decision. Manitobans should also be aware of the red flags of fraud:
- promesses de rendements élevés à faible risque
- pression pour un investissement rapide/offres à durée limitée
- secrets ou renseignements d’« initié »/offres exclusives
- offres de parfaits inconnus
- vendeurs et sociétés non inscrits
- détails incohérents/évitement des questions/pas de trace écrite
Avant d’investir, il faut vérifier si la personne ou la société est dûment inscrite pour mener des activités commerciales au Manitoba. On peut le faire en ligne à sontilsinscrits.ca.
Les membres du public qui croient avoir été visés par toute tentative de fraude sont invités à communiquer avec la CVM. Le numéro de la ligne antifraude de la CVM est le 1-855-FRAUD-MB.
On peut aussi visiter le site recognizeinvestmentfraud.com pour obtenir de plus amples renseignements sur les fraudes et les escroqueries courantes
La Commission des valeurs mobilières du Manitoba est une division de l’Office des services financiers du Manitoba, organisme de service spécial du gouvernement du Manitoba chargé de protéger les investisseurs et de favoriser l’équité et l’efficacité dans les marchés financiers de la province.
-30-