How is the crypto scam list compiled?

The Crypto Scam list is compiled via direct reporting. If you require more information regarding crypto fraud or if you would like to report a scam. Contact us here. NOTICE: Be aware of DogeCoin scams (DOGE). In recent months, Dogecoin scam sites have popped up in unfathomable numbers.

Why are UK consumers being targeted by cryptoasset-related investment scams?

UK consumers are being increasingly targeted by cryptoasset-related investment scams. Certain cryptoassets, like Bitcoin and Ether (also known as cryptocurrencies), are not regulated in the UK. This means that buying, selling or transferring them is outside our remit. The same is true for the operation of a cryptocurrency exchange.

How do you spot cryptoasset fraud?

You can check the FCA Warning List for firms to avoid. Cryptoasset fraudsters tend to advertise on social media – often using the images of celebrities or well-known individuals to promote cryptocurrency investments. The ads then link to professional-looking websites.

Are cryptoasset products regulated?

The same is true for the operation of a cryptocurrency exchange. However, some types of cryptoasset products may be or may involve regulated investments depending on their nature and how they are structured. For example, firms that sell regulated investments with an underlying cryptoasset element may need to be authorised by the FCA to do so.