NZ FMA Warns Against Recovery Scam and Investment Scam: BTCSWE and Grandeur Capital Pro

In the latest warnings issued on March 27, 2024, the New Zealand Financial Markets Authority (NZ FMA) recommended caution against recovery scam BTCSWE and investment scam Grandeur Capital Pro.

The NZ FMA is aware of a New Zealand resident who has been contacted by someone claiming to represent BTCSWE. The Individual claimed he could help recover money lost to a previous investment.  

Fabricated documents were supplied to help convince the victim of this individual’s identity and ability to access lost funds. To recover this money, the victim was required to pay a contract fee over months. The victim was also instructed to install the remote access software “anydesk” as part of this process.  

This has resulted in the victim losing a significant amount of money, as the software gave the scammer access to different passwords.  

The regulator has contacted the owners of the BTCSWE cryptocurrency exchange, who confirm they have been impersonated as part of a wider “recovery scam”. 

In addition, the FMA finds that an investor who invested through Grandeur Capital Pro is unable to withdraw their funds. A New Zealand address is listed on the website operated by Grandeur Capital Pro. The regulator does not think Grandeur Capital is located at or operated from that address or from any address in New Zealand, believing that there is false registration/licensing information on their website.  

The FMA considers that it is likely that Grandeur Capitol Pro is operating an investment scam.