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Public warning on https://cextraders.uk

23 Jun 21

The Gibraltar Financial Services Commission (GFSC) is issuing a warning regarding the website https://cextraders.uk and the entities therein referred to as CEX Traders.

This website is using several of the company details of CEX.IO Limited (a genuine registered company) to try to convince people that they work for a company legally registered within Gibraltar and authorised by the GFSC. This appears to be a ‘clone company’, in that its website appears to copy much of the content from the website of CEX.IO and this suspected clone company purports to offer Distributed Ledger Technology (DLT) services, specifically an exchange service for several different cryptocurrencies. It appears that https://cextraders.uk also uses the UK registered address of CEX.IO Limited.

The genuine registered company is authorised by the GFSC to provide DLT services, which includes (i) the operation of a secondary market venue for trading virtual assets (ii) the provision of broker services (iii) the provision of custody services (iv) the provision of escrow services (v) the provision of staking services and (vi) the provision of money-lending services where virtual assets are used as collateral.

The genuine firm makes it clear that neither https://cextraders.uk nor CEX Traders are in any way associated with the activities of CEX.IO Limited, a company legally registered in Gibraltar.

Companies and individuals carrying out financial service activities in Gibraltar have to be authorised by the GFSC. The suspected clone website, https://cextraders.uk, falsely claims that they are authorised by the GFSC however, this is not correct. CEX Traders, the entity referred to on this website, is not authorised by the GFSC, nor is an application currently pending for authorisation. This suspected clone company may be targeting consumers.

You can find out more about how to avoid fraud and scams in our consumer guide here.

Clone company details

Name(s): CEX Traders (clone of a Gibraltar-registered company)

Website: https://cextraders.uk

Gibraltar-registered company details

Name: CEX.IO Limited (Genuine Gibraltar-registered Company)

Website: https://cex.io (Genuine Gibraltar-registered Company Website)

Support Contact No.: +44 20 3966 1272

Authorised under the Financial Services Act 2019; find the entry on the GFSC register here.

The Gibraltar-registered company has no association whatsoever with the ‘clone company or clone website’.

How to protect yourself

We strongly advise you to only deal with financial companies that are authorised by us, and check the GFSC Regulated Entities Register to ensure they are. The register has information on companies that are, or have been, regulated by us. If a company does not appear on the Register but claims it does, contact the GFSC Regulatory Investigations team on +350 200 40283  

Report a clone company

If you think you have been approached by an unauthorised or clone company, or contacted about a scam, please contact us.  

What to do if your company is cloned

If you think your authorised company has been cloned or scammers are fraudulently using your name or other details, contact the GFSC Regulatory Investigations team on +350 200 40283