The Financial and Consumer Affairs Authority (FCAA) is warning investors about an online cryptocurrency trading platform, Ellite Cryptominer LTD, claiming to be based out of the United Kingdom.
Website of Subject: https://www.ellitecryptominer.com/
Ellite Cryptominer LTD holds itself out as one of the world’s leading CryptoForex trading platforms for Bitcoin and other cryptocurrencies. The platform claims the Financial Services Commission of Ontario, based in Saskatchewan, issued them a “Broker License”. This information is false. The Financial Services Commission of Ontario no longer exists, was never based in Saskatchewan and never had the authority to issue a license in Saskatchewan. The FCAA has not issued Ellite Cryptominer LTD a Broker License.
Cryptocurrency trading platforms that trade or sell securities or derivatives in Saskatchewan need to be registered with the FCAA. Ellite Cryptominer LTD is not registered with the FCAA in any capacity.
Tips to protect yourself:
- Always check the registration of the person or company selling or advising about securities or derivatives. To check registration, visit The Canadian Securities Administrations’ National Registration Search at https://www.securities-administrators.ca/nrs/nrsearchprep.aspx.
- Know exactly what you are investing in. Make sure you understand how the investment, product or service works.
- Get a second opinion and seek professional advice before you invest.
If you have invested with Ellite Cryptominer LTD, or anyone who claims to be acting on their behalf, please contact the FCAA’s Securities Division at 306-787-5936.
For more investor protection information visit https://fcaa/gov.sk.ca/consumers-investors-pension-plan-members/investors.