Life isn’t easy when you’re one of the largest cryptocurrency exchanges by volume and number of customers. On the one hand you have to deal with regulators in different parts of the world and on the other hand, scammers trying to impersonate your brand. Coinbase knows this well and is once again the victim of a clone company with the catchy name Coinbaseie.
The British financial regulator FCA recently warned British investors and savers against the activities of people cold-calling consumers and sending them emails from the Coinbaseie.com domain, posing as representatives of the popular cryptocurrency exchange Coinbase.
During the conversation, they encourage setting up a trading account, referring to Coinbase’s regulations and reputation. However, as the FCA warns, they have no affiliation with the real exchange and sending money to them can carry a serious risk of losing it.
Telephone numbers to which FCA has drawn attention: +447766855941, +35351571608, +447766855941, +35351571616, +31637827703. The regulator also advises caution with emails from [email protected] and [email protected].
Misspellings in the names of fully registered entities are a popular strategy among scammers. The names Coinbase and Coinbaseie differ by only two letters, so many people may not notice the slight difference and think about contacting a representative of the popular platform.
Clones everywhere
Financial magnates has repeatedly reported in recent months cases of scammers posing as popular companies offering their services to retail investors. In January, scammers in the UK posed as Admiral Markets and a few days earlier as XTB.
Clones victims also include Westpac and Hargreaves Lansdown, as well as broker Spreadex. In November, the FCA warned of a clone of eToro and IG Markets and, in October, of a counterfeit version of cryptocurrency platform Bitpanda.
To better combat regulatory and cloning issues, Coinbase has decided to hire a former UK minister, who will join the broker’s advisory board in relation to its global expansion. George Osborne, the former Chancellor of the Exchequer, will advise the exchange on regulatory affairs and global expansion.
