The Seychelles Financial Services Authority issued a public warning about the website btcsquare.net, operated by Inside Invest Inc, stating that the company is incorporated under the International Business Companies Act but does not hold, and has never held, authorization under the Virtual Asset Service Providers Act, 2024. The notice also says the original project owners confirmed that the legitimate platform has ceased operations and has no affiliation with any duplicated, cloned or impersonating websites using similar branding, content or representations. The authority advised the public to exercise caution when dealing with websites claiming links to the original project and reminded consumers to verify whether virtual asset service providers and products are licensed or authorized in the jurisdiction from which they claim to operate. It also noted that it publishes authorized and licensed non-bank financial services providers, including virtual asset service providers, on its website and said it continues to monitor suspected unauthorized activity in this area.

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