CBS Market and SPT Media on the KNF's list of warnings

On August 29, 2022 Polish Financial Supervision Authority added to the list of warnings 2 new entities that illegally provide brokerage services in the CFD market, including currencies, cryptocurrencies, commodities as well as stocks. These are CBS Market, operating via the platform https://cbsmarket.co/ and SPT Media LLC, operating under the website www.thecointrust.com. Both sides remain active, so stay alert! Details below.

Watch out for CBS Market and SPT Media LLC

The first of the entities, CBS Market, was included in the list of warnings due to the notification of 178 in connection with joke. 69 sec. 2 points 2, 4 and 5 of the Act on Trading in Financial Instruments. The reason is to offer brokerage services in trading financial instruments without having the appropriate permits. The notification is sent by the KNF Office and the case is handled by the District Prosecutor's Office in Warsaw.

Another entity, SPT Media LLC, was also entered due to the notification under Art. 178 in connection with joke. 69 sec. 2 point 2 of the Act on Trading in Financial Instruments. The proceedings were initiated by the KNF Office and the case is being conducted by the District Prosecutor's Office in Warsaw.

Both entities have quite neatly (as on scams) prepared websites and offer access to instruments such as currencies, commodities, cryptocurrencies and even CFDs on stocks. The first "broker" claims to be based in Salzburg, Austria, the second in Switzerland. The given addresses are obviously untrue, and the network is full of entries from the victims.

We warn against using the services of unlicensed companies. Before opening an account, always make sure it is correct the broker has the appropriate regulations and permits at the indicated financial market supervisory institution.