NZ FMA warns of 'Quantum Financial System' crypto storage scam at account.quantumledgersecv.com
On 23 October 2026 New Zealand's Financial Markets Authority (FMA) warned about scams promoting so-called alternative financial systems and cryptocurrency storage or protection services, and named 'Quantum Financial S…
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Source: fma.govt.nz · published
What happened
On 23 October 2026 New Zealand's Financial Markets Authority (FMA) warned about scams promoting so-called alternative financial systems and cryptocurrency storage or protection services, and named 'Quantum Financial System' (websites account.quantumledgersecv.com and quantumledgersecv.com) as operating the same or a similar scam. The FMA says these scams encourage people to transfer cryptocurrency or savings, hand over wallet recovery seed phrases or private keys, or make extra payments, using conspiracy-based claims that a new financial system will replace the banking system; platforms may show balances to suggest funds are safe, then demand further payments before withdrawal. The FMA says it has received complaints from New Zealanders who reported losses, and lists earlier warnings about QFS from regulators including the UK FCA and Canadian Securities Administrators.
How the scam works
The FMA describes a typical sequence. Scammers claim that a new or alternative financial system will soon replace or operate alongside the existing banking system, and direct people to professional-looking websites offering secure banking, digital-asset protection or access to future benefits. Victims are encouraged to move cryptocurrency, savings or retirement funds into wallets or accounts the scammers control, or to hand over wallet recovery seed phrases, private keys or identity documents as 'security' or 'verification'. With a seed phrase, scammers can move the crypto without permission.
The platform may show balances or transactions to suggest the money is safe, and then demand further payments before anything can be withdrawn. In the end victims can't recover their funds, and the operators hide their identity and location by changing websites, social media accounts and contact details. The FMA says these scams rely heavily on misinformation and conspiracy-based narratives that create a false sense of security.
Source
Financial Markets Authority (New Zealand), "Alternative Financial System and Crypto-Asset Storage Scams" (23 October 2026).
Red flags
- Claims that a 'Quantum Financial System' or another new system will replace the banks.
- Offers to protect or store your cryptocurrency for you.
- Requests for your wallet recovery seed phrase, private keys or ID documents.
- An account balance on screen that you can't withdraw without paying more.
- Upfront fees, activation charges, compliance payments or account upgrades.
If you were targeted
- 1Never share your wallet recovery seed phrase or private keys with anyone.
- 2Don't transfer crypto or savings to quantumledgersecv.com or similar platforms.
- 3Check claims about financial services and licences independently, and seek independent advice before moving large sums.
- 4If you shared a seed phrase, move any remaining funds to a new wallet straight away.
- 5Report the scam through the FMA's Report a Scam page and contact your bank.
- 6Be cautious of anyone offering to recover lost funds for an upfront payment.