Switzerland’s foreign exchange financial institution and dealer, Dukascopy, as we speak warned in opposition to a fraudulent web site which were falsely claiming affiliation with its approved model.
The clone entity, working by way of the area www.dukascoin.holds-coins.com, prompted motion from the regulated firm.
Dukascopy confirmed that it has no affiliation in any respect with the aforementioned platform and suggested everybody to keep away from it fully.
The corporate added that dukascoin.holds is fraudulently utilizing the identify and brand of Diascopy’s personal cryptocurrency (Dukascoin) for attracting shoppers/traders.
“Don’t belief any data to be discovered on the web site www.dukascoin.holds-coins.com. This web site is a clone of www.dukascoin.com web site and its goal is to induce people to disclose seed phrases to their crypto wallets. Don’t present any private knowledge on this web site,” Dukascopy mentioned.
The foreign exchange financial institution said that it’s taking actions in opposition to this dishonest group.
The fraudulent model is certainly trying to mislead traders into pondering that it’s providing a authorized product by utilizing the particulars of a licensed agency working below an identical identify. Nonetheless, traders must be conscious that the unique firm is just not out there to assist in recovering funds if the unauthorized entity defrauds them.
Dukascopy’s cryptocurrency enterprise was a significant focus for clone agency scams because the pandemic has made folks extra prone on account of issues about private funds. The corporate has been taking steps in direction of strengthening its cryptocurrency providing, together with permitting shoppers to deposit and withdraw funds in digital cash, in addition to enabling free inner crypto-transfers between customers of cell banking.
Dukascopy experiences stable revenues
Dukascopy is a longtime foreign exchange financial institution and dealer. Not too long ago, the corporate has been a goal of subtle ways that mirror the real brokerage agency’s web site. Final 12 months, it warned shoppers to be further vigilant to a fraudulent model known as ‘Unitrade Enterprises Restricted.’ The latter was a shady enterprise that spans totally different sectors starting from asset administration to cryptocurrency buying and selling.
What made the Geneva-based dealer deeply outraged was an announcement on Unitrade Enterprises’s web site saying that every one their shoppers’ transactions are made by way of Dukascopy Financial institution.
Scammers have gotten ever extra subtle, concentrating on potential victims with skilled trying web sites. Probably the most generally reported thefts concerned investments in foreign exchange, shares, bonds, and cryptocurrencies.
Earlier this month, Dukascopy unveiled its monetary assertion for the 4 months ending April 30, 2022. The Geneva-based agency’s newest report was characterised by optimistic metrics in areas starting from working earnings to revenues, underpinning its steerage for the total 12 months.
Particularly, the foreign exchange financial institution witnessed a surge in its revenues, which got here in at CHF 10.3 million ($10.5 million). This determine is up by almost a 3rd from the CHF 7.9 million reported again in the identical interval a 12 months in the past.