We have received reports of a cryptocurrency trading scam being conducted by Bitwave Equity, using compromised private Facebook pages and WhatsApp numbers to find new victims.
One post on a compromised Facebook account recommended “Angela Karsch” as “an amazing mentor and coach” who was “happy to help you get started on your journey to financial freedom.”
This “Angela Karsch” (also known as Angela Fox) then referred a New Zealand resident to the Bitwave Equity trading platforms. Attempts to withdraw funds and apparent trading profits were unsuccessful.
Large fee payments were required before the platform would process any withdrawal, with money asked for services such as “PIN setup,” “KYC verification”, and “account upgrading”.
We recommend extreme caution when dealing with these social media profiles, including content displayed on a private account.
We have previously issued similar warnings, which you can find here:
“Stephanie Robert” – Suspected crypto scam using hijacked social media profile
We have identified multiple websites that are part of this scam and believe more may be connected. The scammer may also change its name and the social media accounts or platforms being used to solicit victims.
This warning will be updated as the FMA is made aware of other websites and social media accounts associated with the scam.
Before approaching any crypto trading platforms or exchange providers, always check the Financial Service Provider Register (FSPR) to see if they are registered to provide financial products and services to New Zealanders.
See Financial Service Provider Register
