Service NL
March 13, 2018

Public Advisory: Public Cautioned About Illegal Investment Activity

Service NL is advising the public that Bitcoin Bank/, which claims to be a cryptobank, is soliciting the public online via classified advertising services, social media and a website ( external link) to invest in bitcoin blue (BTCB), a crypto currency. Bitcoin Bank is not registered to trade in securities in Newfoundland and Labrador.

The website claims that the entity is located at a civic address in California, US. Service NL and other Canadian regulators have determined that the entity is not located at the address stated and that the advertised returns on investment are unrealistic. Consumer warnings have been issued in Manitoba, New Brunswick and Nova Scotia.

Service NL cautions the public to check for the registration of any entity soliciting potential investors at external link. If anyone has been contacted by or had any dealings with Bitcoin Bank, or any other suspected scams, they are encouraged to notify Service NL by email at or call the Financial Services Regulation Division at 709-729-2596.

Service NL is responsible for regulating the investment industry in the Province of Newfoundland and Labrador.

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Media contact
Melony O’Neill
Service NL
709-729-4860, 689-0928

2018 03 13                              3:15 p.m.