Regulatory Warning

Bitcotel

Flagged by Financial Markets Authority · New Zealand (NZL)

Official Warnings (1)

Financial Markets Authority New Zealand
Unregistered/Unlicensed entity offering financi...

We are aware of an investor who has invested with Bitcotel and is unable to withdraw money they invested.

Upfront payments are required for processing withdrawal requests, which is one of the characteristics of advanced fee scams.

We recommend caution when dealing with trading platforms or entities that require upfront payments for withdrawing investments. They often give reasons such as tax requirements, anti-money laundering verification etc to convince investors to make additional payments.



Entity name: Bitcotel
Website: bitcotel.com
Email: [email protected]

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This information is sourced from IOSCO I-SCAN and official financial regulators. Inclusion in this database does not necessarily mean the firm has committed fraud - it may indicate they are not authorized to operate in a specific jurisdiction. Always verify directly with the relevant regulator before making investment decisions.

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