Share this article
Chinese Crypto Investment Firm Asked to Remove London Underground Ads
Zeux reportedly touted an investment scheme with 5 percent interest but didn't state it sent the funds back to China using crypto.
Updated Sep 13, 2021, 12:16 p.m. Published Feb 10, 2020, 10:30 a.m.
The U.K.'s financial watchdog has asked a China-based cryptocurrency investment firm to remove advertisements for its service from the London Underground.
STORY CONTINUES BELOW
According to a report from This is Money late last week, the Financial Conduct Authority (FCA) responded to criticism it had been slow to act after the financial news site reported the ads, saying it had come to an agreement with the firm two weeks ago to take the ads down.
The firm in question, Zeux, is reported to have placed ads touting a savings scheme with fixed 5 percent returns. This is Money said it found the investments were converted into cryptocurrency and sent to China for investment there – a fact, it said, was not stated in the ads.
"While these discussions are continuing, the firm agreed on [Jan. 24] to pause the sale of the product to new customers and to stop all marketing activity relating to the product, including on their website, social media and public advertising on the transport network of the product in question," the FCA said in its response.
The news report suggests the ads are still "widespread" on the London Underground railway system.
The FCA said some ads had been put up before it had spoken to Zeux and that it takes some time before they can be removed, "given the size of the network."
"The firm has agreed to pause the sale of the product to new customers whilst our discussions are continuing," the FCA added.
Frank Zhou, Zeux founder and CEO, had previously told This is Money the company was working to comply with the FCA request.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Five Crypto Firms Win Initial Approvals as Trust Banks, Including Ripple, Circle, BitGo
The firms have obtained conditional approval from the Office of the Comptroller of the Currency to convert into national trust banks.
What to know:
- Crypto firms Circle, Ripple, Fidelity Digital Assets, BitGo and Paxos received conditional approval by the OCC to become federally chartered trust banks.
- The move sets up firms to follow in the footsteps of Anchorage Digital, the first to get a federal bank trust charter in the U.S.
- A slew of stablecoin issuers and crypto firms, including Coinbase, filed for federal oversight after GENIUS Act was written into law.
Top Stories
