The Belgium Financial Services and Markets Authority (FSMA) has updated its list of unlawfully operating crypto-schemes along with an article headlined “CRYPTOCURRENCY TRADING PLATFORMS: BEWARE OF FRAUD!

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.

As of June 22, 2018, 50 such companies and/or websites are listed on FSMA’s crypto-schemes list.

The FSMA announced that it 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 and/or that they simply have heard nothing further from the company after investing their money.

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