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Malta’s FSA Warn Global Users Against ‘Bitcoin Revolution’ Scam.

In line with recent official ‘documents‘ published, the MFSA [Malta Financial Services Authority] has issued a warning against an alleged scam scheme being operated word-widely referred to as “Bitcoin Revolution.” 

As per the Maltese regulator, the alleged crypto scam represents a typical get-rich-quick scheme, and operates via the web-site named as the-bitcoinrevolution.org along with several other unidentified websites.

The deceitful entity conjointly reportedly promotes its scheme by illicit advertising on unspecified social media platforms that redirects users to linked pages containing a variety of renowned native personalities that claim to have earned massive profits from crypto investments. The warning statement notes that the users are redirected to those pages without their consent.

The MFSA has stressed that to this period of time, no entity is legalised underneath its VFA [Virtual Financial Assets Act], that was ‘passed‘, earlier in July 2018, till this time. The monetary watchdog additionally emphasised that Bitcoin Revolution is neither registered in Malta or neither is authorized to offer monetary and investment services there.

Following a warning note urging world-wide investors to rigorously review a certain monetary service operator before investing with in, the MFSA provided a list of ‘entities‘ authorised by the MFSA that’s available on the official web-site of the regulator.

The Bitcoin Revolution scam was initially reported by several no of Maltese native personalities on 10th January. In line with native media sources, the Bitcoin Revolution scheme was at first found on a web-site referred to as Major News, depicting 2 hosts in a native show which ‘claimed‘ that Maltese actor along with the television star ‘Davide Tucci’ turned his 250 Euro investment into 483 Euro “within 3 minutes” by using Bitcoin Revolution.

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