New Zealand’s Financial Markets Authority has added three more crypto platforms to its blacklist that warns about scams

New Zealand’s Financial Markets Authority (FMA) has added three more crypto platforms to its blacklist that warns about scams, a release by the FMA reveals Wednesday, Dec. 12.

OneLife Network Limited and its associated entity OneCoin Limited were added to the list because they “bear the characteristics of a scam” and promise unrealistic returns. Moreover, the FMA has learned that the mentioned companies are holding promo events in New Zealand and offering investments, thus breaching the country’s las by acting as unregistered financial services.

Another crypto company, Bitcoin Revolution Limited, was suspected of being involved in a scam as well. As Finance Magnates reports, the crypto trading firm made suspicious claims on its website, such as “Earn up to $1000 per hour or more, starting today.”

Moreover, the FMA recalled its October warning, reminding the public that Bitcoin Revolution Limited falsely claimed that the country’s current or former prime ministers and Treasury officials were investing in Bitcoin (BTC).

Also read: UK crypto payment platform Cubits has filed for administration following a sudden outage that locked customer funds

Source: https://cointelegraph.com/news/new-zealand-financial-authority-blacklists-another-three-crypto-platforms-marked-as-suspected-scams