Ukraine Expands List of Dubious Projects to Include Miners and Crypto Traders

The NSSMC of Ukraine has expanded its list of unreliable investment projects, some of which promoted earnings through cryptocurrencies.

The following have been deemed questionable:

• BIT-X CLUB;
• ACY Securities;
• REVOLUTION FX;
• FxPro;
• TRUST FUNDS;
• AVAFX;
• Moneta Markets;
• NSFX; 
• GROWUP CAPITALS;
• Cap24Trade;
• FinWay;
• LEDTRINO;
• 1000X;
• IQMining; 
• Oil Folex Ai;
• Stability International Platform;
• SIMPLE MINER;
• Currency miner;
• AGLOBALTRADE;
• Land Prime;
• CRYPTO MILITARY;
• One Capital; 
• Dolphin Traders;
• online school SVIKK.

Specifically, BIT-X CLUB presents itself as an “international MLM company with practical crypto tools,” while CRYPTO MILITARY promises to teach a “military strategic approach to trading.”

Some of the listed companies focus on mining. Currency miner attracts clients with promises of instant large payouts for purchasing a cloud mining tariff. SIMPLE MINER names Binance and the cryptocurrency data aggregator CoinMarketCap among its partners. IQMining offers a “lifetime contract” for mining. 

The National Commission reminded that the activities of these companies are not regulated in Ukraine, thus investors risk losing all their funds when dealing with them.

At the time of writing, the full list of the agency contains 304 entries. 

In October 2023, the NSSMC added 16 companies to the list, including those related to cryptocurrencies.