The Malta Financial Services Authority (“MFSA” or “the Authority”) has become aware of an entity by the name of Decenomy plc (C 99090) (“the Entity”) which has an internet presence at https://decenomy.net/. The Entity claims to be a “decentralized economic platform” operating in blockchain technology and cryptocurrencies. From information available to the MFSA, Decenomy plc may have had affiliations or connections with another entity operating under the name of YieldNodes, which has an internet presence at www.yieldnodes.com.
The MFSA wishes to alert the public that, although Decenomy plc (C 99090) is a Maltese registered company, it is NOT licensed or otherwise authorised by the MFSA to provide any financial services which are required to be licensed or otherwise authorised under Maltese law. Additionally, the public should also be informed that YieldNodes is NOT a Maltese registered company NOR it is authorised to provide any financial services which are required to be licensed or otherwise authorised under Maltese law. The public should therefore refrain from entering into any transactions or otherwise dealing with the above-mentioned entities on any matters falling within the parameters of the Investment Services Act (Chapter 370 of the Laws of Malta) or the Virtual Financial Assets Act (Chapter 590 of the Laws of Malta).
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 are advised to 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/. For more information on financial scams please refer to the MFSA scam awareness document to keep yourself informed on red flags.
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.
