Warning as investors lose hundreds of thousands of pounds to “Ponzi-style” crypto scheme

Key Coin Assets Ltd ran a Ponzi-style crypto investment scheme promising 40% to 100% returns, resulting in losses of over £300,000 from nine investors before being shut down by the Insolvency Service in the UK. The FCA and Insolvency Service warn investors to verify firm registration due to ongoing regulatory gaps in cryptoasset activity until full regulation begins in October 2027.

This Wire brief sits within Fusion42's coverage of Fintech.