Key Coin Assets Ltd liquidated following crypto Ponzi scheme investigation

A London court has ordered the liquidation of Key Coin Assets Ltd following an investigation by the Insolvency Service. The company operated a Ponzi-style scheme that promised investors guaranteed returns between 40% and 100% with “0 Fees, 0 Risks.”

Investigators found no evidence that the firm conducted any genuine cryptocurrency trading. Instead, funds from new investors were used to pay earlier participants. Bank records revealed that customer money was frequently transferred into the company director’s personal account within hours of receipt, making the funds difficult to trace. At least nine victims reported to Action Fraud, losing a combined total of more than £300,000.

The Financial Conduct Authority (FCA) had previously flagged the company as unauthorized in September 2024. This case highlights ongoing risks for savers as the United Kingdom prepares for a new full crypto authorization regime, scheduled to take effect on October 25, 2027.