Seychelles FSA Warns of Unauthorized Activity by Crypto Platform Bitrue

The Financial Services Authority of Seychelles (FSA) issued a public warning regarding unauthorized activity by the cryptocurrency trading platform Bitrue, accessible via www.bitrue.com. The platform claims to be operated by straLink Innovations Technologies Limitada, a company with no legal or operational ties to Seychelles.

According to the FSA, Bitrue is not—and has never been—licensed under the Virtual Asset Service Providers Act, 2024, to operate in or from Seychelles. This clarification comes amid the platform’s misleading claims on third-party websites suggesting a connection to the jurisdiction.

The regulator urges investors to exercise caution and conduct thorough due diligence before engaging with any financial service provider. 

The FSA emphasized that investors should always confirm whether a Virtual Asset Service Provider (VASP) is genuinely authorized and regulated in the jurisdiction it claims to operate from. Failure to do so exposes investors to financial loss, data theft, or fraudulent schemes.

The public is encouraged to report Virtual Asset Service Providers (VASPs) operating without proper authorization to the FSA.

BrokersView Reminds You

Unregulated trading platforms pose significant risks to investors, especially those offering cryptocurrency-related services. Avoid dealing with Bitrue, as it lacks any regulatory credentials. 

It’s also worth noting that the Seychelles FSA, as an offshore regulator, offers relatively limited oversight compared to major financial jurisdictions.

If you suspect fraud, you can Submit a Complaint to BrokersView.