An alleged global scamming scheme called ‘Bitcoin Revolution’ did the rounds and traders tend to be warned by no means fall for it.

The Malta?Fsa (MFSA) issued advice against it today via an official document.

Bitcoin Revolution

The alleged crypto scam likens to the typical get-rich-quick scheme and operates through several websites, though just one has been officially?named: the-bitcoinrevolution.org.

The scheme was advertised on social network platforms and he has used photographs of prominent local personalities claiming they’ve already become rich within the crypto investments.

Unregistered

According to the MFSA, the Bitcoin Revolution seriously isn’t registered or licensed in Malta thereby has not been cleared to offer financial and investment services.

Malta passed its Virtual Financial Assets Act (VFA) in July 2019 . This act sets over “regulate the concept of Initial Virtual Financial Asset Offerings and Virtual Financial Assets.”

Effectively, a physique must seek authorization with the MFSA, and no question yet gained this authorization since Act was passed.

Warning

The Bitcoin Revolution promises to make investors rich within minutes. It was first reported on January 10th from this year by a number of local personalities whose identities were used without permission to peddle the scheme.

On an online site?called Major News, two hosts connected with a local show claimed that Maltese actor and TV star David Tucci turned his 250 euro deposit into 483 euro in eight minutes utilizing Bitcoin?Revolution.

Further,?fake articles and ads on Facebook?claimed he had gone bankrupt and used the Bitcoin Revolution platform to build up a 2.3 million fortune.

Tucci has since spoken trying to deny his involvement when using the platform saying he is never used it and confirmed getting a scam:

“Please note Relating to nothing whatsoever in connection with this, I have not engaged in such tradings, never did I authorise or agree to such material being published or advertised. This is definitely clearly for real and click-bait, donrrrt buy into this.”

Be wary of these fraudulent scams available traders!