Last Updated on Thursday, 15 October, 2020 at 10:04 am by Andre Camilleri
The Malta Financial Services Authority (“MFSA” or “the Authority”) has become aware of an entity operating under the name of Maxxoin Investment (Europe) Ltd (“Maxxion”) which has an internet presence at https://www.maxxoin.com/. Although this entity purports to operate from an address in Malta, the MFSA believes that this is not the case. The Entity claims that “Maxxoin is a platform where investors are offered an opportunity to gain up 108% ROI when they invest with crypto currencies while the company mines bitcoin using the sophisticated software. We offer deposits and withdrawals via cryptocurrencies, overcoming the biggest hurdle letting investors instantly transact funds. By using cyrptocurrencies instead of fiat, we provide investors instant deposits, lightning fast execution, variety of investment plans and best client support”.
Maxxion is falsely claiming to hold a Category 3 Investment Services licence issued by the MFSA. The Entity is using a falsely drawn MFSA licence document:
The MFSA wishes to alert the public, in Malta and abroad, that Maxxion is NOT a Maltese registered Company NOR licensed or otherwise authorised by the MFSA to provide any investment services, VFA services or other financial services which are required to be licensed or otherwise authorised under Maltese law. Furthermore, information available to the MFSA suggests that Maxxion is likely to be a scheme of dubious nature with a high risk of loss of money. The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.
The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. Investors should also be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.
A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at https://www.mfsa.mt/financial-services-register/.
If you are a victim of a scam or think you might be dealing with an unauthorised entity or any other type of financial scam, first of all stop all transactions with the company and contact the MFSA at https://www.mfsa.mt/about-us/contact/ as soon as a suspicion arises.