Virtu Financials Targeted in Crypto Scams

Virtu Financial, Inc. (NASDAQ: VIRT), which is an electronic market maker, issued a public warning on Monday, alarming against cryptocurrency scams that are fraudulently claiming to be Virtu affiliates.

These scammers are imitating Virtue representatives and making fraudulent offers, thus attempting to trap them into cryptocurrency scams.

“Please note that Virtu and its subsidiaries do not open accounts for individual investors to trade 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, securities, futures or commodities and do not accept money from individual investors in connection with any type of trading account,” Virtu stated in the warning.

“If you have been contacted by any person(s) purporting to be acting on behalf of or in connection with Virtu to trade cryptocurrency, be aware that these individuals are not authorized representatives of Virtu.”

Additionally, the company names a few of these fraudulent entities in the warning, but believes that these are only a few among many other such platforms using the name of Virtu. Some of these fraudulent platforms are www.virtuya.vip, wap.virtuap.vip and cabbagetrix.one.

Approach the Authorities

Moreover, Virtu urged people who were approached by these scammers to directly contact the United States Federal Bureau of Investigation (FBI) or other local equivalent agencies.

“Virtu has notified the appropriate authorities and intends to commence all necessary legal actions to defend itself from any attempt to infringe on Virtu’s copyrights, trademarks and intellectual property,” the company added.

As the popularity of cryptocurrencies is growing, so are the scams. Fraudsters are using tons of tactics from online phishing Phishing Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than techno Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than techno Read this Term to scaring with the Covid-19 infection, in order to dupe potential victims for cryptocurrencies.

Meanwhile, agencies around the world have become vigilant and are actively busting such fraudsters.