Coin City Limited Scam – The FMA Issues Warning Against Coincity.co.nz
The Financial Markets Authority of New Zealand is warning against Coincity.co.nz, a supposed Bitcoin exchange platform that mimics the name of a legit company known as Coin City Limited.
Coin City Limited and Coin City Bitcoin exchange have no links as the two entities are not associated in any way.
Coin City is currently one of the biggest Bitcoin exchanges in the New Zealand.
According to the FMA, Coincity.co.nz is a scam that traders and investors in general should avoid.
Coin City Limited is also lying that their exchange was featured in media outlets such as CNBC, Financial Times and The Independent.
If you want to buy or sell Bitcoins, it is recommended that you do so with a regulated broker.