The ADGM Financial Services Regulatory Authority has issued an alert stating that the websites tungsten-me.com and tgst-me.com are fraudulent and closely imitate the website of Tungsten Custody Solutions Ltd, an entity regulated by the FSRA. The regulator warned that the sites may mislead investors and the public into believing they belong to Tungsten and said the operators are not associated with Tungsten and are not licensed or authorised to carry on Regulated Activities in or from ADGM. The FSRA said it believes the websites were created for the purpose of conducting fraud. It reminded the public that only firms authorised by the FSRA can undertake Regulated Activities in ADGM and pointed users to its Public Register to check whether an entity has a Financial Services Permission. The authority also directed those with concerns about potentially fraudulent websites linked to financial services in ADGM to its Complaints Portal and noted that cybercrime can be reported to the relevant authorities.
ADGM Financial Services Regulatory Authority 2026-05-05
ADGM Financial Services Regulatory Authority issues alert on tungsten-me.com and tgst-me.com as fraudulent sites impersonating Tungsten Custody Solutions Ltd
The ADGM Financial Services Regulatory Authority has warned that the websites tungsten-me.com and tgst-me.com are fraudulent, closely imitate the site of regulated firm Tungsten Custody Solutions Ltd, and are not licensed or authorised to carry on Regulated Activities in or from ADGM. The authority believes the sites were created to conduct fraud and reminded the public to verify firms via its Public Register and to report suspected fraudulent websites or cybercrime to the relevant authorities.