High Risk
Reported as a scam / unregulated
SF-701256registry entry
Why Hugos Way is on the register
According to its website, it is located in Cyprus. Upon investigation, no matching information was found in the Cyprus Securities and Exchange Commission (CySEC). In essence, Hugo’s Way is not regulated by any governing body. Entrusting it with investors’ funds is highly risky, as there are no legal protections in place to safeguard the funds. Hugo’s Way appears to be a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you to the right next step. A free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.