Crypto scams are as prevalent as ever. Over the years, there have been newer and more sophisticated techniques of crypto scams. In Spain, there has recently been a new form of crypto scams. Illegal entities have started to impersonate the Spanish securities regulator and tried to sell cryptocurrencies on their behalf. Many people fell victim to this scam and lost different amounts of money. The most common method of this scam is through telephone calls and direct messages. However, the interesting part of the scam is that the victims do get the reason behind getting Bitcoins at cheap prices. The Bitcoins they get are supposedly sourced from the reserve of a confiscated company. The Spanish Securities Regulator had confiscated the company’s reserve in connection to another set of frauds. Victims also get an assurance they are being contacted by government agencies.
The Spanish Securities regulator, known as the CNMV, has issued a warning about the same and urged citizens to be more careful. They made it clear that the CNMV does not offer any such services and citizens should report any such calls. The Spanish internal securities department is hunting for the perpetrators but has not yet found any success. On top of that, the CNMV issued a list of suggestions for the citizens to avoid being scammed. The CNMV made it clear that all emails from the entity come from the cnmv.es domain address. Any email from any other address should be avoided and must be reported to the authorities at the earliest.
