The Financial and Consumer Services Commission of the Canadian province New Brunswick (FCNB) has issued a warning against the company Bitcoin-bank.io that claims to be a “cryptobank”, payment card solutions, wallet services and an opportunity to invest in its BTCB coin. The company also claims that it has a software that makes trading in cryptocurrency highly profitable and without risk.
According to FCNB, it became aware of the existence of the company after coming across an ad for investment opportunities in an online classifieds site. However Bitcoin-bank.io is not egistered to trade in, or advise on, securities or derivatives in New Brunswick and its activities in the province are illegal.
Furthermore, the Commission found that the Californian street address provided on Bitcoin-bank.io is fake, i.e. there is no such company there and that the pictures of the purported team of the company have been taken from other sites, with changed names and the content has been copied from other sites.
Our check revealed that Bitcoin-Bank.io offers the crypto coins BTCB (of which nobody has heard) that can be used as an investment tool or a payment, through a Visa co-branded card. According to the company, their trading software, obviously a trading robot, can bring profits of up to 33% per day. Usually the promises of such unrealistically high profits are indeed unrealistic and a scam.