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Bitcoin

Scammers send emails impersonating FCA, offering ‘guaranteed’ cryptocurrency investment opportunity

July 23, 2019, 12:31PM EDT

A scam email claiming to come from the UK Financial Conduct Authority is promoting cryptocurrency investment, FT Adviser writes. The email promises “guaranteed chance to earn” on crypto asset-related investment.

The email uses the regulator’s branding and logo to lend itself credibility. It also sports the logo of the Prudential Regulation Authority.

The email reads, “Bitcoin is still a long way off its peak price of $20,000, which it reached in 2017, but some cryptocurrency experts believe it could hit an even higher value by 2020.” It then displays a “Click here” button.

 The FCA has confirmed the relevant team is looking into the email.

The British watchdog is known for its caution concerning cryptocurrencies. It has already issued warnings around cryptocurrency investments, reminding would-be investors that tokens are not regulated in the UK.

The FCA asks people to remember the institution would never contact anyone asking for money or bank account information. “The correspondence is likely to be linked to organised fraud and we strongly advise you not to respond to the criminals in any way,” the regulator warns.

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