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Scammers Used Virtu’s Trading History To Purloin Cryptocurrency


Mar 03, 2018 Posted /  5656 Views


Scammers Used Virtu’s Trading History To Purloin Cryptocurrency

Virtu Financial Inc. is an electronic trading firm, also renowned for losing money only one day from 2009 to 2014. Reportedly, on 1st march, Virt Coin released a press release claiming that the Chief Executive officer of Virtu, Doug Cifu is planning to issue cryptocurrency. In response to the press release the head of the investor relations at Virtu, Andrew Smith called the above-stated news,  “Totally fake,” No record of such coin has been traced on Coinmarketcap.com which covers 1500 virtual tokens.

“Virtu has notified the appropriate authorities and intends to commence all necessary legal actions to defend itself from any attempt to infringe on Virtu’s copyrights, trademarks, and intellectual property,” – Virtu in an email statement

Swindlers have conducted many scams on social media platforms where the crooks ask for a small amount in the form of Bitcoin or Ether and also promise to return a multiple times of the deposited amount. To look legitimate, the scammers pretend to be a renowned and reliable individual or a company. Crooks take benefit of gullible investors by making fake accounts or hacking existing accounts.

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The recent scam of Virt Coin is slightly different from the rest of the cases.  The scammers may entice investors to send bitcoins and ether to attain early access to Virt coins. As there is no such thing as Virt Coin, as confirmed by the company as well. So the deposits made by investors will be stolen.

The billionaire founder of the organization, Vincent Viola named the company based on Latin word “Virtus” which carries connotations of valor, character, and worth. The history of the Virtu adds an ironic turn to the scam.


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Tags: cryptocurrency trading Virt Coin

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