Investor Alerts - Bitcotel
| Company: | Bitcotel |
|---|---|
| Regulator: | Financial Markets Authority |
| Jurisdiction: | New Zealand |
| Date: | 30 Jan 2025 |
| Link: | https://www.fma.govt.nz/library/warnings-and-alerts/bitcotel/ |
| Subject: | Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.) Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements Miscellaneous |
| Comments: | We are aware of an investor who has invested with Bitcotel and is unable to withdraw money they invested. Upfront payments are required for processing withdrawal requests, which is one of the characteristics of advanced fee scams. We recommend caution when dealing with trading platforms or entities that require upfront payments for withdrawing investments. They often give reasons such as tax requirements, anti-money laundering verification etc to convince investors to make additional payments. Entity name: Bitcotel Website: bitcotel.com Email: [email protected] |
