In Feb 2022, the Spanish CNMV warned against the offshore crypto broker CryptoRocket, operated by the offshore entity CryptoRocket Limited in St. Vincent & The Grenadines. Clients can deposit their funds with Bitcoins or with credit and debit cards and bank transfers via Instacoins The people behind CryptoRocket are also operating LonghornFX and CedarFX. The schemes have no permission to offer financial services in the UK, Europe, or other regulatory regimes. Stay very far away.
Key data
| Trading name | CryptoRocket |
| Domain | www.cryptorocket.com |
| Domain registrar | GoDaddy |
| Business activity | Unauthorized broker, most likely scam |
| Legal entity | CryptoRocket Limited (SVG) |
| Jurisdiction | St. Vincent & The Grenadines |
| Leverate | Up to 1:500 |
| Authorization | No |
| Attacking languages | English, Spanish |
| Payment processor | Instacoins (https://instacoins.com) |
| Social media | Instagram, Facebook |
| Related schemes | LonghornFX, CedarFX |
| Warnings | CNMV |
The narrative
The offshore broker has focused on trading with crypto and also presents itself on social media as an NFT trading platform.
CryptoRocket has more than 3,500 followers on Instagram and some 2,600 friends on Facebook. Like many new broker scams, CryptoRocket relies on an affiliate system to motivate victims to acquire even more victims. To this end, the broker provides a portfolio of banners affiliates can use for promotion on social media.
The obscure World Financial Award of Saqs Investment and Amiran Azaladze chose CryptoRocket as one of the winners in the Forex Broker category and listed it in the Hall of Fame. A mockery. Other illegal brokers, such as LonghornFX, CedarFX, and EagleFX, have also been listed in this Hall of Fame. EagleFX has been red-listed by the U.S. CFTC (read report here).
Share information
If you have any information about CryptoRocket, LonghornFX, or CedarFX, its operators, and partners, please let us know through our whistleblower system, Whistle42.
