Belgium's largest financial regulatory body issued a new warning on cryptocurrency fraud.
The Authority for Financial Services and the Market (FSMA) stated that "cryptocurrencies are the hype of the year" in an announcement published on Monday. The FSMA is a public institution that oversees the Belgian financial sector together with the National Bank of Belgium (NBB).
The regulator said in his letter that would-be investors should pay attention to potential scammers who are spreading the idea of large profits through crypto-sales that eventually turn out to be fictitious.
The FSMA wrote:
"Fraudsters are well aware of this, and try to lure online customers through false cryptocurrencies and huge profits, however, it is taking customers' money and disappearing." It's that simple. " Officials added a list of 28 trading platforms that they said are of a fraudulent nature, and the agency said it issued the update "based solely on the conclusions of the FSMA, particularly following the Consumer Reports. "
In February, the FSMA issued its first warning on cryptographic scams, claiming that people who trust suspicious websites with their money" never recover the funds invested "or" simply do not they heard nothing more from the company with which they invested their money. "
Image of magic trick via Shutterstock