The financial regulator in the UK reported on the growing number aimed at British investors Scam in an official warning.

Financial management of the UK (FCA) published 17 August warning to investors, saying that the crooks can use the images of the stars, attractive sites and a prestigious London address as a screen to lure investors:

“Fraudulent companies can manipulate the software to distort prices and return on investment. They may involve the purchase of non-existent cryptocurrencies. They also have been known to suddenly close the online accounts of the customers to refuse to transfer funds or request money for the transfer of funds”

The FCA also reminds that at the moment the regulator are only derivatives of the cryptocurrency and the cryptocurrency is not yet regulated, so the regulator recommends that you check with authorization to conduct activities and carry out the check using resources such as ScamSmart.

This month, the regulator has previously issued 2 warnings about companies who illegally claimed about the presence of authorization by the FCA in the absence of such. Also in June the FCA issued a Directive for banks on how to work with related to cryptocurrency risks

Separately, financial management, notes that investors are already invested in the Scam, have a chance of becoming victims again, as fraudsters can offer “money back” or participation “in a completely separate” project.

Also last week, UK police have warned the General public about cryptocurrency fraudulent schemes after the national Action Fraud centre, said that the victims of a Scam in the UK lost 2.5 million dollars only in June and July 2018.

Last week the Financial management of the UK announced the initiative of the Global network of financial innovation (GFIN), along with regulators from 11 jurisdictions, including Hong Kong, USA, Australia and Abu Dhabi on the establishment of a “global sandbox” for FINTECH industry and blockchain startups.