Cryptocurrency: Belgium warns against the scams of some trading platforms :

The Belgian Financial Services and Markets Authority has published a list of sites that have been reported to it by cryptocurrency investors. The organization provides tips for identifying which platforms to avoid.

How do you know if you can trust a platform offering to invest in cryptocurrencies? Faced with the many incentives of these sites - "invest in cryptocurrency with confidence", "XXX: cryptocurrency trading finally easy to access" - it is not always easy to identify which are the trading platforms of confidence.

In order to encourage investors, whether new or experienced, to be cautious, the Financial Services and Markets Authority (FSMA) charged with exercising control of the financial sector in Belgium recalls that "behind these new platforms, there are often hidden fraudsters who decided to make cryptocurrencies their new scam ".

The autonomous public body explains that it has received numerous complaints about these false platforms. The people concerned informed him that they had never recovered the funds invested, or that they had never heard from the company with which they had invested their funds.


The FSMA has drawn up a list of platforms on which it has received questions or complaints from consumers. For some of them, the organization has found signs of fraud. The list is obviously not a complete inventory of potentially fraudulent platforms, but is at least a base to which consumers can refer.

As far as recommendations are concerned, the FSMA recommends that you always check the identity of the company (its social identity and country of establishment). "Also beware of companies that claim to have approval from regulatory authorities and refer you to such approvals. This technique is common. However, this is often identity theft, "writes the Belgian authority.


If the site or platform does not exist for a long time, the FSMA once again calls for caution. It also recommends to be wary of promises of guaranteed returns, or protection of the entire invested capital. "Such promises in the cryptocurrency sector are however illusory," the FSMA insists.

In terms of virtual currencies, trading platforms are not the only ones to host fraudulent practices. Some Internet users sometimes discover, without their knowledge, minor cryptocurrency on sites - including government. Some keys exist to monitor the activity of a page that you suspect of hosting such a maneuver.