Warning Investors Acrux Capital Limited – Regarding falsely claiming association with registered Australian businesses or financial services licensees and their authorized representatives.
Cryptocurrencies are becoming more popular and accessible, but they also come with risks and challenges. One of the biggest threats to crypto investors is scam brokerages that pose as legitimate entities and lure unsuspecting customers with false promises and incentives. In this blog post, we will expose one such imposter entity, Acrux Capital Limited, and explain how you can protect yourself from falling victim to their fraudulent schemes.
Regulation and Compliance:
Acrux Capital Limited is a website that claims to offer crypto trading services and to be regulated by the Australian Securities and Investments Commission (ASIC). However, this is a lie. ASIC has issued a public warning that Acrux Capital Limited is not licensed or authorized by them and that they have no connection or affiliation with the genuine Acrux Capital Pty Ltd, which is a registered Australian company. Acrux Capital Limited is using a fake Australian Company Number (ACN) and a fake Australian Financial Services Licence (AFSL) number to deceive customers and regulators.
Another red flag that Acrux Capital Limited is a scam brokerage is its lack of customer support. Their website does not provide any contact details, such as phone number, email address, or physical address. They only have a web form that requires customers to enter their personal information, which could be used for identity theft or phishing purposes. Moreover, they do not have any social media presence or online reputation. Customers who have tried to reach out to them have reported that they never received any response or assistance.
The customer reviews of Acrux Capital Limited are also very negative and alarming. Many customers have complained that they have lost their money or been unable to withdraw their funds from the platform. Some have even accused the brokerage of manipulating the prices and spreads of the crypto assets or closing their accounts without notice or explanation. The majority of the reviews warn potential customers to stay away from Acrux Capital Limited and to report them to the authorities.
How can crypto transactions be traced?
One of the common misconceptions about cryptocurrencies is that they are anonymous and untraceable. However, this is not entirely true. While cryptocurrencies do not reveal the real identities of the users, they do record every transaction on a public ledger called the blockchain. This means that anyone can see the amount, date, time, and addresses involved in each transaction. By using various tools and techniques, such as blockchain analysis, IP tracking, or KYC verification, it is possible to link some transactions to real-world identities or entities.
Shielding Your Finances: Measures to Avoid Scam Brokerages:
To avoid falling prey to scam brokerages like Acrux Capital Limited, you need to take some precautionary measures before investing your money in crypto trading. Here are some tips to help you shield your finances:
– Do your research: Before choosing a brokerage, do some background checks on their website, registration, license, reputation, customer reviews, and security features. You can also use online resources such as Scamwatch or ASIC’s MoneySmart to verify their legitimacy and credibility.
– Be wary of unrealistic offers: If a brokerage promises you high returns, low fees, or free bonuses without any risk or verification, it is probably too good to be true. Scam brokerages often use these tactics to lure customers into depositing money or signing up for their services.
– Use secure payment methods: When making deposits or withdrawals, use only secure and reputable payment methods, such as credit cards, bank transfers, or e-wallets. Avoid using anonymous or irreversible payment methods, such as cryptocurrencies, prepaid cards, or wire transfers.
– Keep your personal information safe: Never share your personal or financial information with anyone you do not trust or know. Scam brokerages may try to obtain your information through phishing emails, phone calls, or web forms. They may also ask you for sensitive documents, such as ID cards, passports, bank statements, or utility bills.
– Report any suspicious activity: If you encounter any signs of fraud or misconduct from a brokerage, report them immediately to the relevant authorities, such as ASIC, ACCC, or AFP. You can also file a complaint with your payment provider or bank if you have been scammed.
Acrux Capital Limited is an imposter entity that pretends to be a regulated and trustworthy crypto brokerage but is a scam that steals money from customers. By following the tips above, you can avoid falling victim to their fraudulent schemes and protect your finances from harm.