Belgian Regulator Updates Its List of Fraudulent Crypto Exchanges

Belgium Europe

FSMA: “The cryptocurrency fraud continues making victims in Belgium.”

Belgium’s Financial Services and Markets Authority (FSMA) has added seven new web addresses to its now 120- strong list of cryptocurrency exchanges it deems fraudulent.

The news comes from the authority’s own announcement published on March 4, which reads:

“During the last weeks, the FSMA continued to receive new complaints of consumers who have invested in cryptocurrencies through these trading platforms. The cryptocurrency fraud continues making victims in Belgium.”

In its statement, the regulator reiterated its warning against cryptocurrency scams which:

  • Claim to offer “secure easy and very lucrative” investments
  • Assure potential client they don’t need to be cryptocurrency experts
  • Claim to have specialists who manage the investments
  • Claim that funds are guaranteed and available for withdrawal at any time

“In the end, the result is always the same: the victims find themselves unable to recover their money!” reads the warning.

A list of latest additions to the agency’s list of fraudulent exchanges follows, which and includes:

  • bearsmarkets.com
  • btckingdom.com
  • directco-invest.com
  • maisonducoins.net
  • novoplacement.com
  • ripae-homine.com
  • tribelylimited.com

The regulator adds that the list is not comprehensive and is based on FSMA’s own fining’s, primarily originating in customer’s reports.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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