FSC issues warning against crypto scams

The Financial Services Commission Mauritius (FSC) has issued a General Alert, cautioning the public regarding virtual assets and any other financial services and products.

The FSC has observed that fake endorsements for crypto offerings are being used to promote cryptocurrency scams.

It said the use of celebrities, prominent businesses, news sites, government agencies, and prominent personalities in the marketing of financial products and services is a significant indication of a scam, which may result in widespread damage to investors.

“The scams are becoming more sophisticated, with heavyweight bogus endorsements to promote nonexistent or potentially illegitimate cryptocurrencies.”

Source: FSC Maurtius