Brief Look at CryptoRocket
CryptoRocket, a brokerage company, ceased operations without explanation or fund return to traders. Registered in Saint Vincent and the Grenadines, it lacked regulation from reputable financial authorities like the FCA (Financial Conduct Authority), CySEC (Cyprus Securities and Exchange Commission), etc. This meant no client security guarantees, including negative balance protection and compensation funds.
The lack of regulatory oversight and operational transparency raised concerns among clients and industry experts. Numerous users reported withdrawal issues and suspected fraud. CryptoRocket's cessation may have stemmed from financial or reputational problems, but the precise reasons remain unclear.
Trader forum reports indicate CryptoRocket was acquired by LongHornFX, prompting the end of all trading and the transfer of clients to the new platform. However, no official confirmation of this partnership was found from either company.
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