Para Holdings Token Lied – ADGM Issues Warning Concerning Para Misleading claims

Hello Cryptocurrency lovers, recall that recently a certain token known as Para Holdings announced that their token will be registered, licensed and even regulated in the ADGM soon, this announcement alone caused the token to raise above 600% with the token almost deleting 2 zeros in one night,

The developers knowing fully well that they lied to their about 2600 holders which later grow to above 3000 holder,
The developers started dumping the token massively claiming a certain wallet was hacked and the hacker has been selling which later turn out to be lies, it was the developers who were actually selling off their positions

You can read Abu Dhabi Global Market (ADGM) full report as regard the latest lies Para devs used to pump and dump on their not so big investors

Read below;

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) wishes to alert the financial services community and members of the public about misleading claims made by Para Holdings and its founder on the Para Holdings website (URL: https://para.global) and on certain social media accounts maintained by Para Holdings and associated parties, including on the social media platforms YouTube, Twitter and Telegram.

para holdings token lied

The FSRA is aware that Para Holdings and its founder have, in recent days, falsely claimed and inferred that:

Para Holdings will be registered, licensed or regulated in the ADGM in the near future; and
a crypto-currency token offered by Para Holdings, PARA Token, will be the “first community driven token to be registered as a currency in the UAE” and will be available for listing and/or trading in the ADGM.
The above claims are false.

The FSRA advises the public that Para Holdings:

Is not, and has never been, granted a Financial Services Permission by the FSRA to carry on any Regulated Activity in or from the ADGM; and
Is not, and has never been, incorporated in the ADGM or licensed to undertake any form of commercial activities in the ADGM.
Only firms authorized by the FSRA can undertake Regulated Activities in the ADGM.

To determine if an entity has been granted a Financial Services Permission by the FSRA to carry on Regulated Activities in or from the ADGM, you can search the FSRA’s Public Register.

para holdings token lied

The FSRA advises the financial services community and members of the public to exercise caution when contacted by any entity that purports to be licensed to undertake Regulated Activities in the ADGM, unless and until the entity’s regulated status can be confirmed by checking the FSRA’s Public Register.