Crypto fraud site list updated according to a recent press release by FSMA, Belgium. The Financial Services and market authority of Belgium keeps track of suspicious behaviour affecting financial markets. The recent press release was an update to a list of sites that are blacklisted as fraudulent. Potential buyers are warned against using these sites. The blacklisted sites look and feel like any other exchange but they never return your money when requested.
During the last weeks, the FSMA continued to receive new complaints from consumers who had responded to fraudulent offers of investment in cryptocurrencies. The cryptocurrency fraud continues making victims in Belgium. Hence, the FSMA repeats its warning against the fraudsters who are using cryptocurrencies to swindle consumers. The FSMA has also updated its list of cryptocurrency trading platforms for which it has identified signs of fraud. This list now includes a total of 131 websites.
The principle remains the same: they offer you an investment they claim is secure, easy and very lucrative. They try to inspire confidence by assuring you that you don’t need to be an expert in cryptocurrencies in order to invest in them. They claim to have specialists who will manage your investments for you. You are told that your funds can be withdrawn at any time or that they are guaranteed. In the end, the result is always the same: the victims find themselves unable to recover their money!
Please find herewith the list of recently identified websites:
- www.bitcoinmarketscap.com
- www.bitcointraderspro.com
- www.coinsmex.com
- www.crypto-sfs.com
- www.etc-markets.co
- www.fisherih.com
- www.ltc-markets.com
- www.stsroyal.com
- www.tdscapitalgroup.com
Important notice: this list of cryptocurrency trading platforms is based solely on the findings of the FSMA, in particular as a result of consumers’ reports. As such, it does not include all the companies which might be operating unlawfully in Belgium in that sector. Should you have any doubts, please do not hesitate to contact the FSMA directly via the consumer contact form on its website.
For more information about this type of fraud, the FSMA invites potential investors to consult its warnings of 22 February 2018 and of 26 October 2018. Crypto Fraud site list updated on 2nd November 2019.
WHAT IS THE FSMA?
The FSMA was established on 1 April 2011. Its full official name is The ‘Financial Services And Markets Authority’.
The FSMA’s status is that of an autonomous public institution. This means that it was established by law and that it carries out independently the tasks in the general interest entrusted to it by Parliament. The members of the FSMA’s governing bodies are appointed by Royal Decree for a period of six years.
The FSMA, alongside the National Bank of Belgium (NBB), supervises the Belgian financial sector. The FSMA’s competences fall within the following six domains:
- surveillance of the financial markets and supervision of the financial information disseminated by companies,
- supervision of compliance with conduct of business rules,
- product supervision,
- supervision of financial service providers and intermediaries,
- supervision of supplementary pensions, and
- contribution to improving financial education.
