- Key Coin Assets Ltd promised returns up to 100%, but investors lost hundreds of thousands of pounds
- Insolvency Service investigations found no evidence of genuine trading
- The Insolvency Service and Financial Conduct Authority (FCA) are warning investors to be vigilant about similar offers
Would-be crypto investors are being warned to check firms are registered after customers lost hundreds of thousands of pounds to a “Ponzi-style” scheme.
Key Coin Assets Ltd told investors it could guarantee returns of 40% to 100%, with one online post claiming “0 Fees, 0 Risks”.
However, the Insolvency Service acted swiftly to have the company shut down when it found no evidence that any trading actually took place.
Nine investors…