Blockchain Recovery’ Scam Is Posing as a Legit Firm, UK FCA Warns


The “clone” firm has been emailing and cold-calling investors and using the real company’s Firm Reference Number with a fake name, the regulator said.

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An audacious new scamming syndicate is targeting cryptocurrency investors by imitating a legitimate firm supervised by the U.K.’s Financial Conduct Authority (FCA), the regulator said.

The “clone” outfit has been emailing and cold-calling investors and impersonating Gain Capital UK Limited by attaching that (legit) company’s Firm Reference Number to a fake name, “Blockchain Recovery Association,” an FCA blog post states. (To be clear: Gain Capital UK Limited is a real company that is authorized by the FCA to carry out certain services.)

“Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm,” the FCA said.

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