Italy’s financial regulator, Consob, revealed last week that it has ordered the blackout of seven websites accused of illegally offering financial services or products, including platforms operating under the names Tradepower and EXT24.
Italy’s Regulator Orders the Blackout of 7 Additional Websites
The action targets six unauthorised financial intermediation websites and one platform conducting an unlawful offer of financial products without a required prospectus.
Consob exercised its powers under the “Growth Decree” to enforce the blackout.
The blacklisted websites include:
- EXT24 (https://ext247.co and https://my.ext247.co)
- Rgroupltd (https://rgroupltd.cm and and pages https://client.rgroupltd.cm and https://webtrader.rgroupltd.cm)
- Trevorex (https://trevorrex.com and https://app.trevorrex.com)
- AHP (www.ahpcmg.com)
- QW Limited (www.quantumwins.com and associated pages https://webtrader.quantumwins.com and https://mobtrader.quantumwins.com)
- Tradepower (https://tradepower.pro and linked domains https://client.trade-power.pro and https://bestrader.io)
- Magnomic Yield Ltd (https://magnomicyieldltd.com)
The total number of sites blocked by Consob since July 2019 now stands at 1,360.
The regulator said internet service providers in Italy are currently implementing the blackout measures, which may take several days to fully take effect.
Consob reiterated the importance for investors to exercise caution. The authority advises verifying whether operators are licensed and whether a prospectus or white paper is published before engaging with any platform offering financial or crypto-asset services.
