Investor Alerts - ACADIAN

Company: ACADIAN
Regulator: Financial Services Agency
Jurisdiction: Japan
Date: 20231225 25 Dec 2023
Subject: Regarding Emerging Digital Threats including ICOs and crypto-assets
Comments: 1. Location of office or Address

2. The employee/official of the relevant authority identified as the said operator’s target for impersonation
YOSHINO Naoyuki, Financial Services Agency

3. Summary of information received at Financial Services Agency’s Financial Services Users Office
(The method of the operator)
・The operator induces certain consumers to remit their funds to its bank account to enable transactions on the ACADAIN application. For solicitation purposes, it uses LINE and other services (commonly called social media) to form ‘investment study groups’, and/or send invitations to ‘investment seminars’ by means of the messaging function of such services.
・The operator does not accept consumers/clients’ withdrawal requests concerning the balance of their accounts on the application, only to demand additional payments from them for breach of contract.
・The operator is reported to have advised consumers/clients to watch a deep-fake video with a virtual speaker impersonating the above-named employee/official in it, urging them to buy in certain crypto assets.

4. Other relevant information obtained by the Japan Financial Services Agency
・The operator’s deep-fake video was seen by viewers on YouTube in September 2023.
・It called for investment in crypto assets "SAIE", etc.