The CySEC-regulated Crowd Tech Ltd d/b/a Trade360 has acquired a reputation for its aggressive approach to acquiring clients. In 2020 and 2021, FinTelegram exposed that Trade360 deployed fraudulent crypto campaigns such as Bitcoin Revolution to chase new clients. Last week CySEC informed that it had reached a settlement with Crowd Tech Ltd for possible violations of the Investment Services and Activities and Regulated Markets Law of 2017. Crowd Tech has agreed to pay the amount of €230.000.
The settlement followed a CySEC investigation for the period January 2020 until June 2021, In particular, the Cyprus regulator found issues in the Company’s compliance with the company’s marketing approach to selling
Contracts for Difference (CFDs) to retail clients and violations regarding prohibiting participation in circumvention activities.
We do not know if FinTelegram’s findings led to the CySEC investigation, but it would seem reasonable to assume that they did.
