A Swiss online bank that launched its crypto-coin only a few days ago was forced to issue a warning about a fraudster pretending to do business in its name.

Dukascopy, a Geneva-based online bank, at the of February issued the dukascoin, a day earlier than it had planned in a bid to pre-empt the token launch of Japan’s Mizuho Bank.

With the launch of the coin, Dukascopy laid claim to having issued the first such token guaranteed by a licensed bank worldwide.

Fraudulent Claim

However, the bank now published an information on its website, saying that a company called GCG Asia wrongfully advertised its services as a partner of Dukascopy. The Australia-based forex trader fraudulently used Dukascopy’s logo and name to attract investors, Dukascopy added.
The bank, which was founded by Andrey Duka, also said it was taking action against GCG Asia.