MFSA Warning - Crypto Foxtrades – Unlicensed Exchange
MARCH 25, 2020

The Malta Financial Services Authority (“MFSA” or “Authority”) has become aware of an entity operating under the name of Crypto Foxtrades which has an internet presence at http://www.cryptofoxtrades.com/. The entity claims to be “a licensed and regulated trading platform that serves over 500,000 customers globally”.

Crypto Foxtrades also purports to be “licenced and regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority”.

The MFSA wishes to alert the public, in Malta and abroad, that Crypto Foxtrades is NOT a Maltese registered Company NOR licenced or otherwise authorised by the MFSA to provide the service of an exchange or other financial services which are required to be licenced or otherwise authorised under Maltese law. 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 http://www.mfsa.com.mt/pages/licenceholders.aspx.

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.

Verżjoni bil-Malti

L-Awtorità għas-Servizzi Finanzjarji ta’ Malta (“MFSA” jew “l-Awtorità”) tixtieq tavża lill-pubbliku dwar entità li qed topera taħt l-isem ta’ Crypto Foxtrades li għandha preżenza fuq l-internet fuq is-sit http://www.cryptofoxtrades.com/. Din l-entità tiddikjara li hija “a licensed and regulated trading platform that serves over 500,000 customers globally”.

Crypto Foxtrades ssostni ukoll li hija “licensed and regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority.”

L-Awtorità tixtieq tinforma lill-pubbliku f’Malta u barra mill-pajjiż, li Crypto Foxtrades MHIX kumpanija reġistrata Malta u LANQAS m’hi liċenzjata jew awtorizzata mill-MFSA biex tipprovdi servizz ta’ skambju jew servizzi finanzjarji oħra li huma meħtieġa li jkunu liċenzjati jew bi kwalunkwe mod ieħor awtorizzati taħt il-liġi Maltija. Għalhekk il-pubbliku m’għandux jidħol f’negozju jew jagħmel tranżazzjonijiet ma’ din l-entità.

L-MFSA tixtieq tfakkar lill-konsumaturi ta’ servizzi finanzjarji biex ma jidħlu f’ebda transazzjoni ta’ servizzi finanzjarji qabel ma jkunu ċerti li l-entità li magħha qed issir it-transazzjoni hija awtorizzata li tipprovdi dawk is-servizzi mill-MFSA jew minn xi regolatur ieħor tas-servizzi finanzjarji ta’ reputazzjoni tajba. Investituri għandhom ukoll jaġixxu b’kawtela massima meta jsirulhom offerti ta’ servizzi finanzjarji b’metodi mhux konvenzjonali bħal telefonati jew permezz tal-midja soċjali.

Lista ta’ entitajiet liċenzjati mill-MFSA hija disponibbli fuq is-sit uffiċjali tal-MFSA fuq http://www.mfsa.com.mt/pages/licenceholders.aspx.

Jekk inti vittma ta’ xi qerq (scam) jew taħseb li tista’ tkun qed titratta ma’ entità li mhix awtorizzata jew xi tip ta’ ingann finanzjarju ieħor,  waqqaf kull tranżazzjoni ma’ din l-entita` u kkuntattja minnufih lill-MFSA fuq https://www.mfsa.mt/about-us/contact/.