Client funds were hidden in BTC and placed in the blockchain

license

The British Monafoli lost their license.

According to the UK Financial Conduct Authority (FCA), Monafoli didn’t have a license

First published warning: 21/12/2021 Last updated: 06/01/2023

We believe that the company may provide financial services or products in the UK without our permission. Find out why you need to be careful about dealing with this fraudulent company and how to protect yourself.

This suggests that the FCA has warned people against dealing with Monafoli for over three years.

Just because the website claims to have been created by a UK-based business doesn’t mean that it’s actually based in the UK.

Just because the website claims to be created and owned by a genuine UK business doesn’t mean that it is. Thieves sometimes impersonate real business.

Just because a website shows some bitcoin doesn’t mean that the business behind the website has purchased bitcoin.

recovery

How can I recover my part?

The above FCA advice continues

This company is not permitted by us and is targeting people in the UK. You will not have access to the Financial Ombudsman Services or be protected by the Financial Services Compensation Regime (FSC). If things don’t go well, you’re unlikely to get back your money.

The FCA has advice on what to do if you’re scamed

Please report

If you are concerned about a potential scam or you think you may have been contacted by a scammer, please let us know. This helps prevent others from becoming victims of the same criminal.

Please call 0800 111 6768 or use the contact form to get in touch.

Anything we don’t regulate, or if you lose money to a scam, contact Action Scam via 0300 123 2040 or their websitelink. Beware of future scams

It is important to be especially careful if you have already been scam. Scammers can try to target you again or sell your details to other criminals.

New scams may be completely different or may be related to previous scams. For example, after you have paid the fee, you can contact us with an offer to regain your money or buy back your investment. These are known as recovery room scams.

UK residents may have the basis for contacting the Financial Ombudsman as it appears that others have done or paid for legal advice or potential civil suits, as obviously others have, but I am extremely careful to approach which lawyers and make sure the advice is realistic about the outlook.

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