NZ FMA Issues Warning: Biteq.io and 22 Duplicate Trading Websites Suspected of Scams

The Financial Markets Authority of New Zealand (NZ FMA) recommended extreme caution when dealing with Biteq, their website Biteq.io, or any of 22 duplicate websites in a newly issued warning. The FMA suspects these websites are being used as part of an investment scam.

Biteq is promoting an online trading platform for cryptocurrency, options, and derivatives, but it is not licensed or registered to provide these services in New Zealand. The Biteq website also makes unrealistic claims about investment returns.  

In addition, the New Zealand regulator has received a report from a New Zealand investor who has transferred funds to Biteq but has been unable to withdraw their investment. 

Details of Suspected Scams 

Entity Name: Biteq, AwinEx, Beastil, Biconomy, BitChange Money, Biteqs, Bitwyt, Coinsbit.pro, CONBAX, GECORO, GOUXO, HidTex, JAVOF, LETSTOX, MacOix, MAGACHAIN, Neurozana, OUDEX, Prendex, TEQWEEK, VAYLEX, WESTCEX 

Website: Biteq.io, Awinex.com, Beastil.com, Biconomy.company, Biconomy.guru, Bitsdelta.live, Biteqs.org, Bitwyt.com, Coinsbit.pro, Conbax.com, Gecoro.com, Gouxo.com, Hidtex.com, Javof.com, Letstox.com, Macoix.com, Magachain.org, Neurozana.com, Ou-dex.online, Prendex.org, Teqweek.com, Vaylex.com, Westcex.com

Email: listing@biteqs,org, listing@biteq.io, listing@gouxo.com, listing@javof.com, listing@magachain.com, listing@teqweek.com, listing@vaylex.com

The websites listed by FMA above are similar or even identical in terms of website content and design, and there is little difference in the conditions and services they claim to offer.

BrokersView reminds traders that scammers running online trading sites often use website templates to set up traps. Some of the fraudulent trading platforms we have exposed used the same website templates to pretend to be legitimate and reliable.