Gibraltar Financial Services Commission
Catalogue reference · Recorded date: 2021-04-19. Confirm the exact legal entity and current status with the authority.
Open authority reference ↗- Commercial name
- https://www.coinrec.io and the entities within coinrec.io LTD, coinrec.io Corp and coinrec.io Limited
- Authority jurisdiction
- Gibraltar
- Authority reference
- 324
- Categories
- 1
- Category details
- Unregistered/Unlicensed entity offering financial products or services
- Additional catalogue information
- The Gibraltar Financial Services Commission (GFSC) is issuing a warning regarding the website https://www.coinrec.io and the entities therein referred to as coinrec.io, coinrec.io Corp and coinrec.io Limited. This website is using several of the company details of CEX.IO Limited (a genuine registered company) to try to convince people that they work for a company legally registered within Gibraltar and authorised by the GFSC. This appears to be a ‘clone company’, in that its website appears to copy much of the content from the website of CEX.IO and this suspected clone company purports to offer Distributed Ledger Technology (DLT) services, specifically an exchange service for several different cryptocurrencies. It appears that https://www.coinrec.io also uses the registered address of CEX.IO Limited. The genuine registered company is authorised by the GFSC to provide DLT services, which includes (i) the operation of a secondary market venue for trading virtual assets (ii) the provision of broker services (iii) the provision of custody services (iv) the provision of escrow services and (v) the provision of staking services. The genuine firm makes it clear that https://www.coinrec.io nor the entities referred to therein are not in any way associated with the activities of CEX.IO Limited, a company legally registered in Gibraltar. Companies and individuals carrying out financial service activities in Gibraltar have to be authorised by the GFSC. The suspected clone website, https://www.coinrec.io, falsely claims that they are authorised by the GFSC however, this is not correct. None of the entities referred to on this website are authorised by the GFSC, nor is an application pending for authorisation at present and this suspected clone company and its website are targeting consumers.
- Validation date
- 2021-04-19
- Modification date
- 2021-04-19