The Financial Markets Authority (FMA) of New Zealand has noted it has received complaints from New Zealand based clients of igot, an Australia-based bitcoin exchange, about igot’s failure to repay clients in accordance with their instructions. Igot is not registered or required to be registered to provide financial services in New Zealand.
The warning posted on the FMA’s “Businesses to be wary of” page. The FMA attempts to protect investors from businesses that are or have been registered on the Financial Service Providers Register (FSPR) and are the subject of complaints about misconduct that suggests customers may lose money.
If the FMA receives a complaint about a business or individual registered on the FSPR, it asks for an explanation. The FMA lists businesses to be wary of that have either not responded or have not provided a satisfactory response to a request for information about a complaint.
Igot Claims DDoS Attack
Igot’s blog stated a distributed denial of service (DDoS) attack is causing delays on its platform. The blog noted the attack is designed to “choke” the system, with