By Andrei Skvarsky.
Foreign exchange broker FXPrimus has accused a company that has “no association” with it is of unauthorised use of its branding for a planned initial coin offering (ICO).
A statement from the Limassol-headquartered broker, a firm that trades in cryptocurrencies, equities, commodities, energies, precious metals and indices as well as fiat currencies, named the alleged usurper as Starlight Capital Group.
Colorado-based cryptocurrency-focused company Starlight Capital Group makes no reference to FXPrimus or any ICO on the publicly accessible part of its website (excluding the Login section).
But FXPrimus chief marketing officer Vince De Castro told EmergingMarkets by email: “It’s all fake information on that website, including the three people listed as founders of the company.”
“The exposure of this fraudulent ICO highlights how easy it is for clients of financial services to be misled,” the statement quoted FXPrimus chief executive Costas Kappai as saying. “This being said, we are extremely concerned for the fund safety of our loyal clientele.”
FXPrimus said it “has made a decision to proceed appropriately with the necessary actions against such unlawful conduct within its regulatory and legal obligations and framework”.
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