The FSMA has updated its list of fraudulent cryptocurrency trading platforms

Reason:
Fraudulent
Content of Penalty:

The FSMA is receiving an increasing number of consumer complaints regarding investments in cryptocurrencies. The FSMA once again warns the public about platforms offering investments in cryptocurrencies. Often these platforms are operated by fraudsters who are now resorting to cryptocurrencies to swindle consumers.

The FSMA continues to receive numerous complaints about trading platforms who claim to be active in the cryptocurrency trade. Consumers who have invested in cryptocurrencies through these platforms complain, in particular:

  • that they never recover the funds invested;
  • or that they simply have heard nothing further from the company after investing their money.

The FSMA has updated its list of cryptocurrency trading platforms regarding which it has received questions/complaints from consumers and vis-à-vis which the FSMA has identified signs of fraud. Would-be investors are encouraged to consult the aforementioned list.
Please note, however: this list is based solely on observations made by the FSMA on the basis of complaints received from consumers. It therefore does not include all actors that are possibly unlawfully active in this sector.

Date: 08/05/2018
Link: https://www.fsma.be/en/warnings/cryptocurrency-trading-platforms-beware-fraud-0

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