Hundreds of former Football Index users have got had their identities open inwards a clumsy information splatter past the physical structure tasked with investigating the demise of the controversial soccer trading platform.

An email sent to former Football Index customers past the UK government’s Department of Culture Media and Sport (DCMS) cobbler's last week confirmed that a governance investigation would follow taking place.

The weapons platform tumbled into insolvency inward early March, leaving users collectively around $100 zillion ($138 million) come out of pocket.

But to supply insult to injury, someone at the DCMS forgot to usage the Bcc alternative when sending out the mass content to around 500 former customers.

Regulator Under Review

Later, when it realized its mistake, the department sent out another email draftsmanship attention to the tender information leak.

“Dear all, you were just now sent an email inward error, which should be deleted,’ it read. “Recipients were meant to live BCC’d in, but were accidentally included in the Copy List. Please live with our apologies for our error.

“We will ensure that this emerge is investigated and that capture activity is taken. We accept this affair rattling seriously.”

Besides exposing their names and email addresses, the original email informed recipients that a survey into Football Index’s concern practices will follow conducted by an main(a) party.

It testament looking at the “decisions and actions of the Gambling Commission and any other regulators,” in parliamentary procedure to unearth any “potential areas for improvement.”

Ponzi Scheme Claim

Up until its founder on March 5, Football Index was a seeable brandmark inwards British soccer. It had sponsorship deals with ii English language Football League teams, QPR and Nottingham Forest, and advertised heavily on television system and radio.

The program mimicked a stockpile market, allowing users to swap “shares” inwards pro association football players, which would fluctuate in time value depending on a variety of real-world factors. Players would find “dividends” based on the carrying out of their shares.

But because the shares were purely notional, with no underlying value, the Football Index framework relied on the invariable cut-rate sale of to a greater extent shares, which has led many to title it was minuscule to a greater extent than a Ponzi scheme.

When the keep company proclaimed it would cut down dividend payments in say to safeguard the “long-term sustainability” of the platform, user affright ensued, and the pyramid came crashing down.

Football Index had its licence suspended past the UK Gambling Commission and entered receivership – similar to chapter 11 failure inwards the US – a hebdomad later.

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