Japanese stock market data

Japan Exchange Group warns against impostors targeting Bitcoin traders

One of the world’s largest stock exchange operators is warning the public against impostors who are using its brand to dupe digital currency investors. The Japan Exchange Group (JPX) claimed that these scammers have been using its logo and brand name without its knowledge or consent.

JPX is the parent company of the Tokyo Stock Exchange, the Tokyo Commodity Exchange, and the Osaka Exchange, a derivatives trading platform. It’s the world’s fifth largest stock exchange operator after the NYSE, NASDAQ, the Shanghai Stock Exchange, and the Hong Kong Stock Exchange.

In its public warning, the company noted that it has been receiving numerous inquiries from various sources “regarding companies providing trades in digital assets such as virtual currencies, including Bitcoins, using company names/logos/URLs similar to those of us, such as “JPEX,” “jpex,” “Japan Exchange” on websites, SNS, and advertisements of all kinds.”

It made it clear that it’s in no way affiliated with any of these companies and that they have been using its brand name and logo without its knowledge and/or consent. JPX is the latest in a long list of companies and individuals that have been impersonated by scammers who target digital currency owners. These scammers use all manner of false pretenses, from pushing digital currency giveaways to touting new, cheaper and more efficient trading platforms. 

Some of the more famous targets for these scammers include Tesla CEO and controversial memecoin supporter Elon Musk, Prince Harry and his wife Meghan, Microsoft founder Bill Gates and even former U.S. President Donald Trump. 

To further make them seem authentic, the scammers also impersonate local celebrities. In the U.K., they have used the images of billionaire Lord Sugar, TV personality Simon Cowell and Dragon’s Den’s Peter Jones. In Australia, they have impersonated Waleed Aly, David Koch, Karl Stefanovic, and more. 

Some of the celebrities whose images have been used by scammers have sued the platform through which these scammers target their audience. Apple co-founder Steve Wozniak, Qatari billionaire Wissam Al Mana and embattled blockchain payments firm Ripple have all gone after YouTube for allowing these scammers to use their brands and images.

Watch: CoinGeek New York panel, Investigating Criminal Activity on the Blockchain

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

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