FSMA, Financial and Services Marketing Authority of Belgium were flooded with new reports from the investors who had responded to the fraudulent offers related to investment in cryptocurrencies. The authority is continuously warning the investors since last one year and recently updated the list of cryptocurrency trading platforms and websites which have been identified as suspicious. The list has reached to 141 sites.
FSMA Unveiled The Suspicious Sites
FSMA regularly informs the crypto enthusiasts to protect the customers from extortion. It explains the fundamental principle that is followed by scammers; they offer a lucrative investment offer to generate high returns and trap the customers by assuring the safety of coins. When the user is a pitfall after paying its first instalment, their funds will be lost altogether.
Supervisory authority updated the list of recently identified websites which is based primarily on the findings of FSMA based on the reports of consumers. The list only contains the suspicious sites but not mentions the sites which are operating illegally in Belgium.
Role Of Belgium To Safeguard Crypto Investors
In the present era where technology penetration is gaining traction, crimes and scams related to the internet are also pacing up. As the crypto space is expanding day by day, fraudulent schemes are taking advantage of the money-making sector. The fraudsters tempt the new investors and also to the investors who are in haste to earn profits.
Series of warnings and regulations are circulated by the government and related authorities to safeguard the netizens, but still many of the crypto enthusiasts get duped. Belgian authorities are maintaining the list since last year and even regularly update the list as and when find the suspicious sites. “If it’s too good to be true, it’s not true”, a campaign was started by the Belgium government to raise the awareness of the menaces posed by cryptocurrencies.