Ukraine Labels AI-Based Investment Project as Unreliable

The NSSMC of Ukraine has added five investment projects to its list of dubious ventures.

The list includes:

• Quant AI;
• RaceTrader;
• Finalto Trading Limited;
• Stockity;
• ROLEXJT.

Quant AI, in particular, offers “earnings” from market price fluctuations, allegedly tracked by AI algorithms. For 15 USDT, users are promised access to a “VIP plan” with “returns of up to 36.37% per day.” The page features an animation of a “client list” purportedly showing withdrawal requests, mostly in five-figure USDT amounts.

The RaceTrader platform claims to hold a license from an entity called The Financial Commission. However, the website of this organization states that it “is not a governmental regulatory body,” “does not hold a license from any regulatory authority,” and was created “solely for the purpose of amicable dispute resolution between traders and brokers of FX and CFD.” Furthermore, the project’s legal entity is not listed among the holders of its certificate.

Finalto Trading Limited uses fictitious names and stock photos in its “customer reviews” section. A quick Google search reveals that one of the platform’s “investors” also “positively reviewed” the purchase of gourmet delicacies on an Italian website and “advertised” effective English learning methods on another.

In addition to “investment opportunities,” Stockity offers a series of “tournaments with a prize pool of up to 1.8 million hryvnias” ($45,000).

The National Commission emphasized that the listed dubious projects operate in Ukraine without the necessary permits, aiming to seize citizens’ funds.

Back in February, the regulator deemed unreliable a platform that offered investors an “annual return of 1045%.”