Investor Alert: Bitcoin-bank.io05 March 2018
SAINT JOHN (GNB) – The Financial and Consumer Services Commission is warning New Brunswickers about Bitcoin-bank.io, a website for a company claiming to be a “cryptobank,” offering payment card solutions, wallet services and an opportunity to invest in its BTCB coin. The company claims to have developed software to make trading in cryptocurrency highly profitable.
The commission took a close look at the website after becoming aware the cryptobank was advertising its investment opportunities on a Canadian online classified site.
Since it is not registered to trade in, or advise on, securities or derivatives in New Brunswick, it is illegal for Bitcoin-bank.io to carry out these activities in the province.
An investigation of its advertised street-listed address in California found no presence of the company at that location.
The review also revealed that many of the photographs accompanying team profiles on the website had been taken from other sites with fake names attached, and that content had been copied from other websites.
Anyone who has been approached or targeted to invest in Bitcoin-bank.io is asked to contact the commission toll-free at 1-866-933-2222, or through its website at www.fcnb.ca.
Becoming an informed investor is the best way to protect your money. Informed investors do not leave it to chance. They understand the risks and costs involved with each of their investments.
The Financial and Consumer Services Commission has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. It is responsible for the administration and enforcement of provincial legislation that regulates the following sectors: securities, insurance, pensions, credit unions, trust and loan companies, co-operatives, and a wide range of other consumer legislation. It is an independent Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors. Online educational tools and resources are available at www.fcnb.ca.