Paragonix Earn cryptocurrency platform
Paragonix Earn cryptocurrency platform
Press Release
Paragonix Earn cryptocurrency platform
Issued: 20 September 2024
We are aware of a second social media advertisement that is circulating among Islanders promoting the cryptocurrency platform Paragonix Earn. This follows our previous warning about the cryptocurrency platform Nearest Edge, which featured similar claims.
The latest advertisement takes the form of an alleged interview with Mr Simon Nixon (Mr Nixon), falsely stating that he endorses the platform and asserts that the Jersey Financial Services Commission (JFSC) is involved in legal proceedings against him. It further encourages Jersey residents to invest in the platform based on these misrepresentations.
In conjunction with Mr Nixon, we wish to make it clear that all representations made within the interview are false.
Mr Nixon has no association with either the Paragonix or Nearest Edge cryptocurrency platforms and commented: “Both Nearest Edge and Paragonix Earn cryptocurrency platforms have used my name to endorse and promote their platforms. I have no association with either platform and all claims made within the advertisement are false. My identity has been used to add credibility to what the JFSC considers to be a fraud.”
We also want to clarify that the JFSC is not a bank and does not accept deposits, as implied by a false bank statement included in the advertisement. We believe that our identity and branding have been misused to add credibility to a fraud.
We urge the public to be wary of cryptocurrency scams and watch out for the following warning signs:
- the use of celebrities and high-profile individuals to promote a platform
- cryptocurrency platforms advertised via social media
- platforms that pressure you into making a quick decision
- promises of unrealistic investment returns
- platforms that ask for more money before transferring any profit (advance fee fraud)
See the full list of virtual asset service providers registered in Jersey.
Pictured: False bank statement from advertisement using JFSC branding