Belgium Warns of 19 Cryptocurrency Trading Platforms Showing Signs of Fraud

The Belgian financial authority has published a list of 19 cryptocurrency trading platforms that it had received complaints about. The regulator says these platforms show signs of fraud.

19 ‘Fraudulent’ Crypto Trading Platforms

Belgium’s Financial Services and Markets Authority (FSMA) has recently warned about fraudulent cryptocurrency trading platforms. The agency also published a list of 19 crypto platforms it “has received questions or complaints from consumers about and has established indications of fraud,” the agency wrote.

They are 01crypto, Btc-cap, Capital-coins, Coinquick, Cryptavenir, Crypto-banque, Crypto-infos, Cryptos.solutions, Cryptos-currency, Ether-invest, Eurocryptopro, Finance-mag, Gme-crypto, Gmtcrypto, Good-crypto, Mycrypto24, Nettocrypto, Patrimoinecrypto, and Ydconsultant.

The agency emphasized that this list does not include all questionable crypto trading platforms – only ones which consumers have filed reports about.

Consumer Complaints

FSMA noted that several new platforms have emerged online, using the same methods to lure investors. “They claim to offer the best (or one of the best) trading platform(s) on which, both beginners and professionals” can trust and trade on instantly, the financial watchdog detailed.

Complaints that FSMA received include customers unable to reclaim their invested money and customers unable to contact the company once they have invested. “I invested via a platform that claimed to have a license,” FSMA quoted one consumer. “When I asked for the refund of my money, I was promised that my money would be refunded on a certain date. However, I have never received anything and now I do not even get access to the platform.” […]

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