Switzerland-based cryptocurrency bank Dukascopy has warned customers that forex trading company GCG Asia is fraudulently claiming to be the bank’s authorized firm in an announcement published on Feb. 27.
In the announcement, Dukascopy Bank — purportedly the first regulated bank to launch its own initial coin offering (ICO) — cautions that neither it nor any entities of Dukascopy Group have relations with GCG Asia, although the latter fraudulently claims the opposite. The warning reads:
“GCG Asia is fraudulently using Dukascopy’s name and logo for attracting clients/investors, without Dukascopy Bank’s permission. We are taking actions against this dishonest organisation.”
In January, European cryptocurrency exchange Bitstamp partnered with Dukascopy Bank, wherein Bitstamp will support Bitcoin (BTC) transactions on behalf of Dukascopy. Customers will be able to send BTC to their accounts, convert them to U.S. dollars and trade on the Swiss FX Marketplace.