An FCA masked scam email has been moving around encouraging users to make crypto investments. These fraud emails claim to be from the UK Financial Conduct Authority (FCA) and try to lure the users into the trap.

These fraudsters use the branding and logo of the FCA to make it appear more real to the prey. The scam email assures the users a guaranteed chance of earning on investments. It also claims that within 2020 the bitcoin value will rise more than it reached in 2017.

The real FCA confirms that they do not have any connection to all these scam emails. They never ask for the user’s bank account details. The FCA clarified that all this is a scam and people should not fall for such scam emails. They asked the public to make sure that such things are authenticated or not.

Earlier in July, Seven Venezuelans became victims of a fraud crypto Ponzi scheme. The investors filed a lawsuit with the Florida Federal Court. These Venezuelans allege that the involved companies made false commitments of high returns on low investments.