New Zealand FMA Trashes Alliance Investment Crypto Fraudsters

It’s Friday, and that means it’s the New Zealand Financial Markets Authority’s (NZ FMA) turn to add a scam firm to its warning list.

This time it’s a company called Alliance Investment Ltd. The firm claims that it is the “best cryptocurrency investment company.”

It also says that it’s based New Zealand but, given that the NZ FMA has added to its warning list of scam firms, that’s probably not the case.

More amusing is the fact that the firm claims that it was founded in 2008. Of course, Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term was not launched until the start of 2009, meaning that the company is either lying or it was way ahead of the rest of the world.

According to the NZ FMA, Alliance Investment Ltd is also attempting to frame itself as part of a legitimate investment firm called ‘Alliance Investments Limited.’

“Alliance Investment Limited are an unregistered, unregulated entity who are falsely holding out as being associated with legitimate company, Alliance Investments Limited,” said the regulator. “We believe that Alliance Investment Limited... has the hallmarks of a scam and would therefore recommend exercising caution [when engaging with the firm].”

From binary options to bitcoin

This author was unable to find any reviews of the scam firm’s services but, given that it is a scam firm, that’s probably a good thing.

Though most investment scams have traditionally sold either binary options, foreign exchange or contracts for difference, in the past year a huge number of cryptocurrency hucksters have popped up.

Playing on the idea that cryptocurrency enables everyone to get-rich-quick, they lure victims into depositing money by promising them an easy buck or two.

As with their binary options-selling predecessors, the firms will take a deposit and then refuse to give it back to the client. This is made even easier by the anonymity that Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term allow.