MFSA Issues Warning About Bitcoin Revolution

25th January 2019

The entity has been posting adverts and pages on various social media platforms, linking the website to various prominent local personalities without their permission.

The Malta Financial Services Authority (MFSA) has issued a warning about an entity operating under the name Bitcoin Revolution.

The entity has been posting adverts and pages on various social media platforms, linking the website to various prominent personalities without their permission, and making false claims about them.

Among them, notably, was actor Davide Tucci, whom the website falsely claimed had filed for bankruptcy and regained his fortunes through the website’s services.

“I have never engaged in such tradings, never did I authorise or approve of such material being published or advertised. This is clearly a scam and click-bait, please don’t buy into this," the actor posted on Facebook, after being alerted to a spate of such adverts.

“The website falsely reports profits made by these individuals,” the MFSA added. “No person is currently authorised under the Virtual Financial Assets Act as at today.”

“Bitcoin Revolution is NOT a Maltese registered Company NOR licensed or otherwise authorised by the MFSA to provide any investment or other financial services which are required to be licensed or otherwise authorised under Maltese law.”

Earlier this month, the government said it had filed a police report over several fake news websites mentioning the Prime Minister, ministers and the government in general, which was undermining the genuine work being done by the administration in the fields of blockchain and cryptocurrency.


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