The Belgian Financial Services and Markets Authority (FSMA) is continuing to warn citizens about the associated risks of dealing with cryptocurrencies after identifying seven new scam websites.
In today’s warning, FSMA says it has “continued to receive new complaints of consumers who have invested in cryptocurrencies through these trading platforms.”
The newly identified websites are as follows:
The regulator explains the modus operandi of many of these scams, noting how they typically offer prospective customers the opportunity to make “secure, easy, and very lucrative” investments.
“They [the scam operators] try to inspire confidence by assuring you that you don’t need to be an expert in cryptocurrencies in order to invest in them. They claim to have specialists who will manage your investments for you. You are told that your funds can be withdrawn at any time or that they are guaranteed,” the regulator’s node adds. “In the end, the result is always the same: the victims find themselves unable to recover their money!”
To date, FSMA has identified 120 websites that seemingly operate nefarious cryptocurrency schemes designed to dupe investors out of their funds.
You may not need to be an expert in cryptocurrencies to invest in them, but one thing’s for sure: you do need to do your homework first, and if something sounds too good to be true, let’s face it, it probably is!