New Zealand's Financial Authority Blacklists Three Local Crypto Platforms

The Financial Markets Authority of New Zealand has added three new crypto-related websites to its list of online scams, an announcement by the FMA reveals Thursday, Nov. 1.

On Nov. 1, the FMA listed three companies - Crypto Gain, Russ Horn, and Zend Trade - on its "Scam" list, where citizens are warned about the potential risk of dealing with certain websites.

"The website www.cryptogainlimited.com is not associated with, nor a representative of, the New Zealand registered company Cryptogain Limited."

Crypto Gain Limited claims on its website that it has a certificate of incorporation granted by local authorities in August 2017.

According to the website, the company provides consulting services for those who are new to crypto trading.

Fix Club Limited, a crypto trading platform, was mentioned because of false claims that it belonged to the New Zealand regulated crypto area.

Bitcoin Revolution Trading was listed for reportedly claiming that country's current or former prime ministers and Treasury officials were investing in Bitcoin.

As Cointelegraph previously wrote, rumors spread on social media in late 2017 that former New Zealand Prime Minister Sir John Key held $300 mln in BTC from his initial investment of $1,000.

Key denied all the allegations, revealing that the initial piece was posted by a fake website pretending to be the New Zealand Herald - the largest newspaper in country.

New Zealand's police have also warned citizens about crypto-related online scams in September, shortly after an investor lost $320,000 NZD to crypto fraudsters.