In Spain, the Comision Nacional del Mercado de Valores has issued a fraud warning to GiraCoin. GiraCoin and Gira Financial Group AG are under investigation by the CNMV, which issued an alert on February 7th.
Article 140 of the Spanish Securities Markets Act prohibits the provision of investment services. Similar to a securities fraud warning in other jurisdictions, this message is being issued here in the US. In light of the apparent demise of GiraCoin, the CNMV’s announcement is puzzling.
In November 2016, GiraCoin Financial Group AG was in charge of running the business. In order to make money with GiraCoin, you had to buy Ponzi points. Investment packages ranging from €50 to €111,111 were offered by GiraCoin.
As far as I could tell, I couldn’t verify that the CNMV was aware of the reboot. GiraCoin was operating from “giracoin.com”..
Today, that domain has been taken down. GiraCoin is mentioned in the CNMV’s fraud notice as operating from “girauno.com.” What’s left of GiraCoin, according to Alexa’s traffic rankings for that domain (5.5 mill+), has crumbled.
The official Facebook page of GiraCoin was abandoned in June 2019, according to a review of the company’s social media accounts. In March 2018, the official Twitter account for GiraCoin was deactivated. GiraCoin’s final Facebook post directs users to a new Telegram group that had just been created. Assuming that’s the location of the current GiraCoin promotion.
On YouTube, GiraCoin has a video called “Tramac SA,” which appears to be a rebranding attempt for 2020. Tramac SA is a legitimate mining operation, but it has no connection to GiraCoin. The Tramac SA rebrand by GiraCoin appears to have failed. GiraCoin is a collapsed Ponzi scheme full of bagholders, no matter what name it goes by.
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