The Malta Financial Services Authority (“MFSA” or “the Authority”) has become aware of an entity operating under the name of Bitcoin Bank which has an internet presence at various social media pages and has been running sponsored videos promoting a “Bitcoin Bank”. Although this entity purports to operate from an address in Malta, the MFSA believes that this is not the case. From information available to the MFSA, Bitcoin Bank claims to be a regulated bank.

While videos and images may seem legitimate, entities may make use of AI technology to manipulate images and video/audio which may appear real.

The MFSA wishes to alert the public that Bitcoin Bank is NOT a Maltese registered Company NOR licensed or otherwise authorised by the MFSA to provide any financial services which are required to be licensed or otherwise authorised under Maltese law. Furthermore, information available to the MFSA suggests that Bitcoin Bank is likely to be a scheme of dubious nature with a high risk of loss of money. The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.

The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. Investors should also be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at https://www.mfsa.mt/financial-services-register/.

If you are a victim of a scam or think you might be dealing with an unauthorised entity or any other type of financial scam, first of all stop all transactions with the company and contact the MFSA at https://www.mfsa.mt/about-us/contact/ as soon as a suspicion arises.