Blue asset group. Legit?

[FlamingSheep]

This is ABSOLUTELY a Ponzi scheme. They would need to be registered as an FSP with a category 1.27 license to be providing crypto asset services legally. They don't even have a pending application for such a license (which would mean they could continue operating under an existing exemption for registration for crypto service providers).

I've been trying to get the regulators to look at this company for around a year now. Previously, they advertised month-on-month returns of >30% which is the hallmark of a Ponzi. Initially when I saw that, I started investigating their claims (I work in the industry for a respectable company that offers real crypto services -- so it boils my blood when scammers tarnish our reputation). My first port of call was the Cayman Islands Monetary Authority, who confirmed via email that their Cayman fund did not exist. They recommended reporting to the Cayman police (didn't bother with that, there's no extradition treaty so it's a waste of time).

Please DM me for more information if you need. Your friend will get burnt if he doesn't pull out ASAP.

See old version of their website here: https://web.archive.org/web/20240517083628/https://www.blueassetgroup.com/home

And all prior versions here: https://web.archive.org/web/20240000000000*/blueassetgroup.com

Edit: Their existing FSP license is for an entity that never even featured on the website in the past (it does now). Their Key Individual isn't even the CEO. Long term insurance subcategory A is the easiest FSP license to get. It relates to policies that require no underwriting (i.e. predatory funeral plans, etc.).

 

[BrainCloudz]

This is ABSOLUTELY a Ponzi scheme. They would need to be registered as an FSP with a category 1.27 license to be providing crypto asset services legally. They don't even have a pending application for such a license (which would mean they could continue operating under an existing exemption for registration for crypto service providers).

I've been trying to get the regulators to look at this company for around a year now. Previously, they advertised month-on-month returns of >30% which is the hallmark of a Ponzi. Initially when I saw that, I started investigating their claims (I work in the industry for a respectable company that offers real crypto services -- so it boils my blood when scammers tarnish our reputation). My first port of call was the Cayman Islands Monetary Authority, who confirmed via email that their Cayman fund did not exist. They recommended reporting to the Cayman police (didn't bother with that, there's no extradition treaty so it's a waste of time).

Please DM me for more information if you need. Your friend will get burnt if he doesn't pull out ASAP.

See old version of their website here: https://web.archive.org/web/20240517083628/https://www.blueassetgroup.com/home

And all prior versions here: https://web.archive.org/web/20240000000000*/blueassetgroup.com

Edit: Their existing FSP license is for an entity that never even featured on the website in the past (it does now). Their Key Individual isn't even the CEO. Long term insurance subcategory A is the easiest FSP license to get. It relates to policies that require no underwriting (i.e. predatory funeral plans, etc.).

Were you involved with Invictus Capital? The company that was placed under liquidation 2 years ago? Sorry, if you were involved with that, I wouldn't take financial advice from you.

 

[Snyper564]

Were you involved with Invictus Capital? The company that was placed under liquidation 2 years ago? Sorry, if you were involved with that, I wouldn't take financial advice from you.

person is helping you lol they are pointing out the red flags. read again...