British regulator reported on fraudulent firm Blockchain Recovery Association – Bits Media

UK Financial Conduct Authority (FCA) reported a company called Blockchain Recovery Association, which posed as a legal company with a license FCA.

The regulator announced the frequent cases of cryptocurrency fraud, when Attackers carry out phishing attacks, hiding behind the name of licensed companies. One of these schemes was Blockchain Recovery Association, The founders who sent emails to potential investors, and also made "cold" calls. Attackers issued themselves as a division of the real company Gain Capital UK Limited, having a resolution of the FCA for the provision of financial services.

To mislead people and enter into confidence in them, Fraudsters used the Gain Capital UK Limited registration number. With the help of phishing, The organizers of the fraudulent scheme tried to get their passwords from cryptocurrency users, Closed keys and other confidential information, to take possession of their crypto actures.

FCA said, that all firms and individuals, providing financial services in the UK, must have an appropriate license to conduct such activities. However, Blockchain Recovery Association is not registered with FCA and has no licenses. It turned out, that the creators of this company indicated the inaccurate address of its location and non -existent phone numbers.

The department warned, that recently cryptocurrency scammers began to use these companies more often, Receiving FCA license, Preshing themselves as employees of legally working organizations. Therefore, the regulator recommended cryptocurrency users not to report their personal information to anyone, And check, Is the company really interested in the register of financial services really. All legal and private individuals are indicated in this register, FCA received permission.

Recall, that at the beginning of the year, the British regulator warned about the risks of investment in cryptocurrencies due to their high volatility and an increase in the number of cryptocurrency pyramids.