New Zealand police warned citizens …
New Zealand Police Warn Citizens Of Crypto Investment Fraud
The New Zealand Canterbury Region Police Department posted a public warning on its website on Wednesday urging citizens to be wary of online investment schemes offering great returns on cryptocurrencies. Shortly before this, a New Zealand citizen involved in a similar scheme had lost NZ $ 320,000 (about $ 212,500)..
Although the police are still silent about the fraud and its organizers, it is known that “it involved investments in cryptocurrencies like bitcoin,” the warning says. In order to lure funds from its victims, the company offered to make a modest investment and in return get very large profits..
“The number of investments grew, but then began to decline,” adds the police. The scammer approached the victim several times to make new investments on the deposit posted on the company’s website.
While advising citizens to stay away from investment schemes offering suspiciously large returns on investment, Sgt. Paul Reeves also said:
“Before investing in online schemes that you are not sure about, you should consult. Scammers are extremely persistent and can seem very persuasive. strongly interested in the success of their deal “.
In addition, the police report refers to a cryptocurrency memo posted on the website of the Computer Emergency Response Team (CERT), the New Zealand agency responsible for cybersecurity. It explains the benefits and risks of investing in cryptocurrencies, and also suggests storing tokens in offline wallets to minimize the possibility of theft..
Currently, the crypto industry in New Zealand is largely unregulated. However, in November 2017, the Financial Market Authority (FMA), the country’s financial regulator, issued an official statement that it considers all tokens and cryptocurrencies to be securities..
In addition, a few weeks ago, the FMA advised the country’s citizens to stay away from the crypto project of 19-year-old Ashutosh Sharma, who was planning to raise NZ $ 220 million. His ICO closed less than a week after launch.
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