Crypto Updates

French Authorities Issue Warning on Crypto Deception


A fraudulent investment offer in crypto assets is at
the center of a warning issued by the Financial Markets Authority (FMA)
and the Paris Prosecutor’s Office. The French authorities said that the platform,
dubbed Immediate Connect, is using the internet and social media to advertise or spread false articles purported to be from well-known
personalities or reputable information sites.

Operating through multiple websites, this fraudulent
scheme allegedly mimics legitimate platforms, targeting those seeking lucrative
investment opportunities. The AMF discovered it in June, flagging its automated
trading offers as dubious and cautioning investors to exercise utmost vigilance.

According to a report by AMF, savers are being lured
by an article purportedly coming from a reputable media publication. After
filling out online forms, users are swiftly contacted by financial
advisors, coercing them to join unauthorized trading platforms for forex,
crypto-assets like Bitcoin , or derivatives.

Subsequently, the AMF has added several suspicious
sites to its blacklist. The regulator has identified several clone
versions operating as Immediate Connect. In a bid to combat this fraud, a court
proceeding on October 9 resulted in the blocking of various associated web
addresses, aiming to restrict their access within French territory.

The Paris Prosecutor’s Office warned against
engaging with…

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