16 March 2021
- ob体育 is alerting investors about a suspicious investment opportunity 鈥� Beurax Corporation Pty Ltd (ACN 643 681 654) and its website, beurax.com.
- The Beurax website promoted a trading platform and deposit plans and offered unrealistically high and 鈥榞uaranteed鈥� returns.
- Do not transfer funds or further funds to Beurax.
ob体育 has received reports predominantly from overseas investors who invested with Beurax via beurax.com, who are now unable to withdraw their investments. Beurax has stopped communicating with those investors.
ob体育鈥檚 concerns
- Beurax promoted deposit plans and claimed investors could earn returns from 1.4% per day on their investments. This is currently an unrealistically high rate of daily return and a warning that the investment is highly speculative and high risk.
- Beurax聽accepted crypto-assets (or cryptocurrencies) as payment. It is difficult to trace these payments and consumers do not have the same protections as they would if they paid by other means, for example if they paid by credit card where a chargeback may be available.
Company registration is a not a guarantee
Beurax is a registered company. Company registration does not mean a business is viable or that a business model is sound.
Information about what to consider before investing is available on ob体育鈥檚聽听飞别产蝉颈迟别.
What to do if you invested with Beurax
ob体育 is warning consumers against dealing with Beurax. Do not transfer further funds to this entity 鈥� even if it is to 鈥榳ithdraw funds鈥�.
You do not need to lodge a report with ob体育聽as we have sufficient information at this time.
ob体育 is unable to assist in recovering your funds. Contact your financial institution to see if they can assist in tracing payments made. However, when payments are made via crypto-assets, the likelihood of recovering money may be diminished.
ob体育 is Australia鈥檚 corporate, markets and financial services regulator.