IMMEDIATE RELEASE
August 7, 2019
SC Warns Manitobans to be Wary of Crypto-Hype
Winnipeg – he Manitoba Securities Commission (MSC) is issuing a warning to Manitobans about high-risk cryptocurrency investing after a Manitoban lost nearly $9,000 to a ‘Bitcoin trading’ company allegedly operating from Talinn, Estonia.
The company, 4XFX bills itself as a ‘Bitcoin trading investment’ platform, in addition to other cryptocurrencies and commodities such as gold and crude oil. The company’s website is currently shut down, but not before a Winnipeg man was defrauded of $8,729.
Other fraudsters are now targeting the same man.
“Not only was this individual defrauded by 4XFX, but his information is being shared with other scammers to target him again,” says Jason Roy, Senior Investigator with the MSC. “He’s being contacted by companies offering to recover his money for a fee—this is a typical, ‘recovery room’ scam, where a second criminal with knowledge of the first fraud will pretend to help you in order to con you a second time. It’s insidious, and unfortunately it’s not uncommon.”
Following an investigation, MSC has released an Investor Alert naming 4XFX, 4XFX.com and GRF Europe OU, which are not, and have never been, registered to trade securities in Manitoba. Regulators in the U.K., Australia, and Spain have blacklisted the same company.
This alert was issued as part of the North American Securities Administrators Association (NASAA) “Operation Cryptosweep” an international crackdown on potentially fraudulent ICOs and cryptocurrency-related investment products, involving more than 40 provincial and state securities regulators in Canada and the United States. MSC is a member of NASAA.
This is the second ‘Cryptosweep’ conducted by NASAA since 2018. The recent uptick in the price of Bitcoin this year has increased public interest in cryptocurrencies and given rise to another substantial wave of cryptocurrency-related frauds.
A critical component of “Operation Cryptosweep” is raising public awareness of the risks associated with Initial Coin Offerings (ICOs) and cryptocurrency-related investment products, including:
- Potentiel de fraude : En raison de leur nature même, les PEC sont un terreau fertile pour la fraude.
- Volatilité :Les prix des cryptomonnaies varient considérablement vers le haut et vers le bas, souvent sous l’impulsion du seul engouement médiatique. Il y a peu de contraintes à la manipulation des prix.
- It’s Vulnerable:Online wallet companies and exchanges are susceptible to cybersecurity threats and hacking, putting your deposits at risk.
- Manque d’information fiable :Contrairement à un premier appel public à l’épargne (PAPE), il n’y a pas d’obligation d’information officielle telle que l’identité des personnes derrière la PEC et la façon dont l’argent recueilli sera utilisé.
- Taux d’échec élevé :Bon nombre de PEC reposent sur une idée, plutôt que sur un modèle d’affaires éprouvé.
- Obscurité : It’s hard to make informed decisions about value without financial statements or other traditional assessment criteria to rely on.whether it fits with their long-term financial strategy. Even legitimate products can be high-risk, and definitely not suitable for everyone. Take time to do your homework before you invest. Start by checking an individual or company’s registration at .
MSC suggests investors should make sure they thoroughly understand the details and risks of a potential investment, and whether it fits with their long-term financial strategy. Even legitimate products can be high-risk, and definitely not suitable for everyone. Take time to do your homework before you invest. Start by checking an individual or company’s registration at sontilsinscrits.ca.
Ci-joint les infographies « Qu’est-ce que la cryptomonnaie? » et « Qu’est-ce qu’une PEC? », qui donnent de l’information sur la manière dont les investisseurs peuvent se protéger contre les fraudes relatives à la cryptomonnaie et aux PEC. On peut aussi les trouver ici
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.
Créée en 1919, la North American Securities Administrators Association (NASAA ou Association nord-américaine des autorités en valeurs mobilières) est la plus vieille organisation internationale de protection des investisseurs. Il s’agit d’une association bénévole dont les membres sont 67 autorités en valeurs mobilières issues de 50 États et du District de Columbia aux États-Unis, de Porto Rico, des Îles vierges américaines, des provinces et territoires du Canada ainsi que du Mexique.
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