Bitcoin Scam Alert: Bitcoin Investment Firm Xmaxbit is a Fraud, IFSC Warns
Currency regulators in Belize and the Seychelles are raising the red flag regarding a digital currency investment scheme.
The International Financial Services Commission of Belize has warned that an online firm which calls itself Xmaxbit is falsely purporting to be an International Business Company registered in the Central American country.
The IFSC said that Xmaxbit claims to offer bitcoin investment and mining services and is not officially registered in Belize. A registration document posted on its website is ?a complete forgery?, the IFSC said.
Certificate of Incorporation No. 804124, IFSC said, carrying the company?s name and claiming to be an International Business Company incorporated in Belize, is a complete forgery.
According to Belize regulators, Xmaxbit ?is not licensed and/or regulated by the IFSC or any other authority in the country to conduct any kind of trading business.?
IFSC has also warned website visitors to ?take exercise extreme caution? in light of the alleged fraudulent scheme.
Belize is not the only government to accuse Xmaxbit of forgery and fraud. Earlier this month, the Seychelles Financial Services Authority issued a similar warning with regards Xmaxbit, disclosing that it fraudulently claimed it was registered in the Seychelles.
Belize is popular as an offshore hub for brokers who are interested in meeting fewer and ?softer qualifications in the compliance of stringent policies than if they applied for permits in other countries.
Based on information from its official website, Xmaxbit is a company that invests in bitcoin and ?Forex, Mining, Crowdfunding, Cryptocurrecy [sic]? and is headquartered in Crown Towers, Tower Bridge Road, London, UK.