Maltese Regulator Issues Warning on Bitcoin Revolution Scam

 

 

 

 

 

 

The Malta Financial Services Authority (MFSA) issued a warning on Friday, advising the public about a potential scam entity called “Bitcoin Revolution.” According to the advisory, Bitcoin Revolution is likely an international scam, and the public is advised to “refrain from undertaking any business or transactions” with the entity.

The MFSA stressed that Bitcoin Revolution is not licensed by the regulator or registered as a Maltese company.

Bitcoin Revolution apparently uses promotional advertisements and social media pages to suggest links between the entity’s the-bitcoin-revolution.org website and “various local personalities” in Malta who have apparently not given consent. The advisory also notes that the entity’s website contains false information about profits earned by those individuals.

 The warning included sound advice for anyone considering an investment opportunity with any unfamiliar organization or project in Malta:

“The MFSA strongly advises investors and consumers of financial services that prior to making any investment or entering into any financial services transaction they should make sure that the entity with whom the investment or transaction is being made is authorised to provide such services by the MFSA or another financial services regulatory authority as applicable.”

 

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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