COSNOB Bans Bitsurge and Green Earth Crypto for Scamming Investors, Warns Against TradeU2

Italy’s top regulator announced this Monday a warning to traders with a private equity firm, Sun Capital and its subsidiary FX Broker, TradeU2. The report by Commissione Nazionale per le Società e la Borsa (CONSOB) also announced the trading ban of two cryptocurrency companies, Bitsurge and Green Earth Crypto in the country.

Earlier on Monday, Commissione Nazionale per le Società e la Borsa (CONSOB) warned users against trading with TradeU2, a subsidiary of Sun Capital, a trading firm. The suspicions on TradeU2 start on its website which frankly looks like a scam at first sight. The website does not state the founders or management team anywhere which also raises more suspicion on legitimacy.

Furthermore, the website of TradeU2 is poorly developed with the platform having a feel of no thought put to make it legitimate. The FX broker doesn’t state its location or contacts details which is rather weird for a legitimate business. Investors should be wary of such investments as well as report them to relevant authorities.

CONSOB Bans Two Cryptocurrencies From Offering Tokens

In the report released on Monday, CONSOB banned Bitsurge from offering its tokens for the next 90 days. The scam cryptocurrency has raised some questions from the regulator given its sketchy website and patched team on the website. No pictures of the team members are online with only a name offered to the top management positions.

Notwithstanding, the Bitsurge tokens are only accessible to investors through buying it through Bitcoin and Ethereum which makes the traceability of funds impossible. Investors have been discouraged from purchasing any Bitsurge tokens for the next 90 days.

Green Earth Crypto is the second cryptocurrency faced with the same sentence from CONSOB. The well named cryptocurrency promises to make the earth cleaner with its green token. However, as is with Bitsurge, Green Earth Crypto is a scam.

The company carries its operations through a Facebook page. On here, the scammers sells patches of land using “Green Earth Certificates” that each costs USD $2. As cheap as the deal sounds, the certificates are worth nothing according to COSNOB.

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