The Polish Financial Supervision Authority, or PFSA, issued a warning on the surge of scammers offering fake crypto investment opportunities, which they claim to be the only authorized investment fund in Poland.

The scammers call potential victims by asking them to sell or buy cryptocurrencies through the fake fund, but first, they should send the cryptos to the PFSA compliance team’s wallet to verify the legality of the transactions and then, the regulator clears the payment to be deposited in the unexistent fund.

The watchdog has been aggressive towards crypto in the past few years and added the following reminder to Polish citizens:

"We would like to remind you that the cryptocurrency market in Poland is not a regulated or supervised market. PFSA does not license, supervise or exercise any other powers with regard to cryptocurrency trading activities."

Also, the PFSA encourages people to report the scams to the nearest Police unit and gather as much information as possible from the scammer.