The Financial Sector Conduct Authority has issued a warning to members of the public about unauthorised crypto-currency firms – MultiFX Options and Digital Daily Return .
This, after it come to the attention of the FSCA that MultiFX, DDR and its associates solicit crypto asset investments from the public using social media platforms. reported that Planet Mining Pool, which described itself as a leading global one-stop blockchain cloud mining platform, was accused by “investors” of scamming them out of “substantial” amounts of money.Last year, the US Commodities Futures Trading Commission South African resident Cornelius Johannes Steynberg in a Bitcoin fraud scheme case totalling $1.7 billion .
At the time, this action was the largest fraudulent scheme involving Bitcoin charged in any CFTC case.Amid these scams, the local crypto-currency industry recentlythe Crypto Asset Association of South Africa, and enforced a “code of conduct and ethics” in a bid to flush out bad actors from the sector.
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