The Financial Sector Conduct Authority (FSCA) is warning the public about a fraudulent scheme where scammers impersonate 10X Investments (Pty) Ltd (FSP No. 28250) on WhatsApp and Telegram. These fraudsters are using stolen identities of 10X staff, including Chief Operating Officer Caroline Naylor-Renn, to lure victims with fake bitcoin investment promises.
10X Investments has confirmed that they do not use Telegram or WhatsApp for business and do not endorse any such communications. The FSCA urges the public to be vigilant against rising scams on messaging and social media platforms.
Always verify an entity’s authorization with the FSCA before investing. Stay alert—fraudsters are targeting unsuspecting victims with too-good-to-be-true returns!
