MFSA warns about fraudulent entity cloning a legitimate company

ZBX Exchanges has no association with Zillion Bits Ltd and is not a Maltese-registered company

March 25, 2025| Times of Malta 1 min read
The MFSA has issued a warning against a fraudulent entity ZBX Exchanges. File photo: Times of MaltaThe MFSA has issued a warning against a fraudulent entity ZBX Exchanges. File photo: Times of Malta

The Malta Financial Services Authority on Tuesday issued a public warning regarding a fraudulent website operating under the name ZBX Exchanges.

The website is using the details of a legitimate, MFSA-licensed company, Zillion Bits Ltd, "in an effort to deceive the public".

According to the MFSA, the website is falsely claiming to be affiliated with Zillion Bits Ltd, which is a registered company in Malta, in order to mislead potential investors.

The Authority pointed out that ZBX Exchanges is not a Maltese-registered company, nor is it authorised to provide any financial services in or from Malta.

"ZBX Exchanges has no association with Zillion Bits Ltd," the MFSA said.

The website in question appears to be a clone of the legitimate company’s online presence, and the MFSA is urging the public to refrain from engaging with it.

The Authority has advised the public not to enter into any transactions or engage in any activities related to ZBX Exchanges, particularly those that fall under the jurisdiction of the Market in Crypto-Assets Act.

 

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