"Recently, information has been actively circulating on social media and in the media about companies entering the market that attract funds from the public by promising returns through crypto-asset trading.

Activities of this kind may constitute a classic financial pyramid scheme, whose primary objective is not business development but the recruitment of new members and the attraction of their funds. Regardless of how successful such a company may appear at any given time, the scheme will inevitably collapse once it becomes impossible to attract new members and/or additional funds. As a result, the company will no longer be able to meet its obligations to its investors.

All such schemes involve a high degree of risk, as it is virtually impossible to predict when they will collapse.

The National Bank of Georgia once again warns the public to exercise extreme caution before investing their funds in order to avoid the risk of financial loss. First and foremost, individuals should obtain information in advance about a company`s reliability, business activities, and financial soundness, and verify whether it is regulated by any competent authority. To mislead the public, such companies may use terms such as financial, brokerage, investment, and similar wording in their names. The use of such terms does not automatically mean that a company is regulated and/or licensed by the National Bank of Georgia.

We urge the public to make investment decisions only on the basis of reliable information and after carefully assessing and understanding the associated risks", -reads the statement.