World Crypto Global
- Written by: Damian Chmiel
- Mon, 12 Feb 2024
- Israel
Life is noteasy when you are one of the largest cryptocurrency exchanges by volume andnumber of clients. On the one hand, you deal with regulators in different partsof the world, and on the other, with scammers who try to impersonate yourbrand. Coinbase is well aware of this and has again fallen victim to a clonecompany with the catchy name Coinbaseie.Coinbaseie is NotCoinbase, Beware of FraudstersThe UK financial regulator FCA recently warned British investors and savers againstthe activities of people who cold call consumers and send them emails from the Coinbaseie.comdomain, posing as representatives of the popular cryptocurrency exchangeCoinbase.During theconversation, they encourage setting up a trading account, referring toCoinbase's regulations and reputation. However, as the FCA warns, they have noaffiliation with the real exchange, and sending them any money may involve aserious risk of losing it.Notably, the FCA has flagged several phone numbers|: +447766855941, +35351571608, +447766855941,+35351571616, +31637827703. The regulator also advises caution with email addresses frommartinharvey@coinbaseie.com and anthonycollins@coinbaseie.com.Misspellingthe names of fully registered entities is a popular strategy among scammers.The names Coinbase and Coinbaseie differ by only two letters, so many peoplemay not notice the slight difference and think they are contacting arepresentative of the popular platform.Clones EverywhereFinanceMagnates hasrepeatedly reported in recent months about fraudsters impersonating popularcompanies offering their services to retail investors. In January, scammers inthe UK posed as Admiral Markets and a few days earlier as XTB.Victims ofclones also included Westpac and Hargreaves Lansdown, as well as the brokerSpreadex. In November, the FCA warned against an eToro and IG Markets clone,and, in October, against a counterfeit version of the Bitpanda cryptocurrencyplatform.In order tobetter combat regulatory and cloning issues, Coinbase decided to hire a formerUK minister who joins the broker's advisory council in connection with itsglobal expansion. George Osborne, the previous Chancellor of the Exchequer,will advise the exchange on regulatory affairs and global expansion.This article was written by Damian Chmiel at www.financemagnates.com.
