The clone entity, working by means of the area https://www.app-uplow.vip/dist/#/, prompted motion from the regulated firm.

Dukascopy confirmed that it has no affiliation in any way with ‎the aforementioned platform and suggested everybody to keep away from it fully.‎

The corporate added that Scoin is fraudulently utilizing the title and emblem of Diascopy’s personal cryptocurrency (Dukascoin) for attracting shoppers/buyers.

“Dukascopy Financial institution SA informs about its web site’s fraudulent clone on the area https://www.app-uplow.vip/dist/#/. Please bear in mind that this web site is just not managed and doesn’t belong to Dukascopy Financial institution, Dukascopy Europe, Dukascopy Japan or another entity of Dukascopy Group. Don’t belief any data to be discovered on the web site https://www.app-uplow.vip/dist/#/. Don’t present any private knowledge on this web site,” Dukascopy stated.

The foreign exchange financial institution acknowledged that it’s taking actions in opposition to this dishonest group.

The fraudulent model is certainly trying to mislead buyers into ‎pondering that it’s providing ‎a ‎‎authorized product through the use of the ‎particulars of a licensed agency working beneath an identical title.‎ Nevertheless, buyers ought to be conscious that the unique firm is just not obtainable to assist in recovering funds if the unauthorized entity defrauds them.

Dukascopy’s cryptocurrency enterprise was a significant focus for clone agency scams because the pandemic has made folks extra prone because of issues about private funds. The corporate has been taking steps in direction of strengthening its cryptocurrency providing, together with permitting shoppers to deposit and withdraw funds in digital cash, in addition to enabling free inside crypto-transfers between customers of cellular banking.

Dukascopy is a longtime foreign exchange financial institution and dealer. Lately, the corporate has been a goal of subtle ways that mirror the real brokerage agency’s web site. Final yr, it warned shoppers to be additional vigilant to a fraudulent model referred to as ‘Unitrade Enterprises Restricted.’ The latter was a shady enterprise that spans completely different sectors starting from asset administration to cryptocurrency buying and selling.

Scammers have gotten ever extra subtle, focusing on potential victims with skilled wanting web sites. Essentially the most generally reported thefts concerned investments in foreign exchange, shares, bonds, and cryptocurrencies.

Most lately, Dukascopy customers have gained entry to ten new crypto devices, together with many throughout the realm of decentralized finance (DeFi). On high of that, the FX dealer has considerably improved its overnights charges.

The choice to broaden its providing into CFDs ought to yield fast advantages for Dukascopy, particularly given the affinity of the instrument by shoppers and the maturation of the CFD market throughout the business.