Japan debunks the latest in the gamut of cryptocurrency scams

ambcrypto.com:

Impersonation scams in the cryptocurrency industry abound, with hundreds of fake Elon Musk’s and Michael Saylor’s offering huge returns on social media to entrap the uninitiated. While in the past, many governments and the personalities themselves have issued warnings against the same, scamsters in the crypto space have shown no intention of withholding their creativity. This was recently highlighted by the Japan Exchange Group (JPX), which issued a warning about a new type of impersonation scam now doing the rounds.

The company, which owns the Tokyo Stock Exchange and Osaka Exchange, issued an alert on its website earlier today warning the public about companies selling crypto assets by using its name as a stamp of authorization.

— Japan Exchange Group EN (@JPX_official_EN) February 8, 2022

The warning has come after JPX was informed about an abundance of platforms online that were masquerading under the JPX brand name to trap rookie investors into trading Bitcoin and other cryptocurrencies.

The company further noted that those posing as subsidiaries of JPX were creating fake names, logos, and URLs that looked similar to those used by JPX, such JPEX, jpex, and Japan Exchange, on both their platform and advertising campaigns.

This is not even the first time when scams using prominent brands have come to the fore, as many legitimate cryptocurrency companies are also suffering from the same debacle. Recently, Hong Kong-based venture capital firm Animoca Brands issued a warning which highlighted how an ERC-20 token called Animoca Brands Metaverse had registered under its name and was pretending to be affiliated