UK Regulators Shut Down Crypto Exchange Following £1.5m Scam

David Hill, Chief Investigator for the Insolvency Service, said the crypto exchange operated by GPay was entirely a scam. Scam Crypto Exchange Used Facebook to Bait Victims The XtraderFX crypto trading platform had used social media adverts to lure rookie traders who were looking to get rich quick.

The adverts used by XtraderFX featured images and the name of Martin Lewis of moneysavingexpert.com – a consumer champion in the world of UK finance. Lewis claimed that over 1,000 scam adverts, featuring his image or name, had appeared on the social media platform, even after he had informed them of the problem.

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