New frauds are circulating among cryptocurrency traders using forged documents that appear to be from Maltese financial regulators to request payment of fictitious market manipulation fines.
The Malta Financial Services Authority (MFSA) issued a public warning and urged users to remain vigilant after discovering unauthorized use of its name, logo and official signature format.
The scam targets BTC and ETH traders
According to the MFSA, fraudsters are distributing fake documents to individuals involved in Bitcoin and Ethereum transactions. These documents allege that if the recipient fails to comply, they impose penalties for alleged market manipulation and threaten regulatory measures.
The MFSA has confirmed that these threats are fully manufactured and that the documents are not legitimate. Forged letters are made to look authentic and misuse MFSA branding to deceive recipients and make payments.
Fraud aims to leverage trust in regulatory bodies to withdraw funds from unsuspecting users.
Depending on the case, the MFSA generally asks people to pay attention when receiving unsolicited communications, even if they appear to come from a known agency.
“The authorities would like to warn the public against such fraudulent schemes that are used as a means of obtaining fraudulent funds from potential victims by aims to be misborn from legitimate authorities, in this case MFSA,” the MFSA said in a statement.
MFSA encourages attention and verification
The regulator advised consumers to verify the identity and legitimacy of the sender before engaging in financial transactions. Individuals can check whether the financial services provider is licensed through the official MFSA register.
The MFSA encourages people who suspect they are being targeted by fraud, or who have already suspended all transactions and may have already fallen victim to report issues through the official agency’s contact channels.
Ongoing fraud highlights the increasing risks faced by crypto users, especially in sectors where phishing attempts and fraudulent activities are increasingly sophisticated.
Expect continuous updates as this story evolves.
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