UK Regulators Shutter Phony Crypto Exchange GPay

A high court in the United Kingdom has ordered the shutdown of an alleged cryptocurrency scam exchange known as GPay, which potentially robbed customers of more than $1.8 million in digital funds. The court alleges that the company used fake celebrity endorsements to entice people to step aboard the crypto plane and invest their money.

In addition to television actors, many professional investors and crypto industry executives claim that their likenesses were used to promote the fraudulent activity. This scam should also serve as a warning to anyone who conducts trading online that they should carry out appropriate checks before they invest any money that the company is registered and regulated by the appropriate authorities.

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