The Rothschild family financial advisory issued a warning Monday against a fraudulent investment scheme that uses a presumed digital currency and, in an unauthorized manner, the name Rothschild & Co.



This scheme would revolve around a cryptocoin denominated "LCF Coins", supposedly issued by the Rothschild Family LCF Project, and that would be operating in China under the pretext of realizing an investment round to found the company. It should be mentioned that Rothschild & Co was founded around 1838 and since then has been one of the most powerful financial and banking companies with the largest global expansion, so would hardly need any investment round to start a new project.



The press release issued by the company indicates that this financial scheme presents worrying traits of being a Ponzi scheme when saying that "it is proposed to be financed for investments of virtual currencies and Internet of the Things and to pay commissions based on the time that people are investing in this scheme."



Likewise, they point out that for some months information has been disseminated in this regard, inviting people to participate. The messages have appeared in China through websites and social networks such as WeChat, Weibo and QQ, and in Korea in the BAND mobile application, but in English language has also spread on platforms such as Facebook and YouTube, or circulars written like this , so it is assumed that in other Asian countries also these messages appear.



To clarify the situation, the statement states that no member of the Rothschild family or employee of its companies is related to this fraudulent scheme of investment, and that it is usurping the name of Rothschild without authorization, reason why already they are working with the authorities to find those responsible and stop this alleged scam. Likewise, they recommend to those who have made investments in this scheme to communicate with the authorities immediately.



Another concern or warning made by Rothschild & Co was the fact that LCF Coin could steal personal information from its users and proceed with identity fraud, a problem that is becoming more widespread and to which solution the blockchain has been proposed.

