Luxembourg Financial Regulator Exposes Another Potential Scam, Cryptominingoptionsignal

  • Over the course of the past few months, a number of new crypto scams have been unearthed across the globe.
  • Luxemborg’s CSSF recently issued a circular pointing out that a company called Cryptominingoptionsignal had been running an illegal crypto venture within the country.

According to an all new notice issued by Luxembourg’s financial regulator — the Commission de Surveillance du Secteur Financier (CSSF) — a crypto firm called Cryptominingoptionsignal (that claims to possess all of the required operational licenses to run such a business), is in fact a suspicious outfit that investors should be wary of.

In regards to the matter, a spokesperson for the CSSF was quoted as saying:

“The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named Cryptominingoptionsignal […] The CSSF informs the public that Cryptominingoptionsignal is unknown to it and that the entity has not been granted any authorisation to provide investment services or other financial services in or from Luxembourg.”

As some of our regular readers may recall, a few months back, Luxembourg-based cybersecurity firm Argento entered into an agreement with the London Block Exchange to jointly issue a Bitcoin (BTC)-backed bond.

The aforementioned offering is regulated by the UK Financial Conduct Authority (FCA) and as per Phil Milko — an executive over at Argento — it is the world’s first and only institutional grade bitcoin-denominated financial product.

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