Belgium warns citizens against these 99 cryptocurrency scam sites

The Belgian Financial Services and Markets Authority (FSMA) continues to warn netizens of the dangers of dealing with cryptocurrency businesses having identified several new blatant scam sites.

The regulator announced today that it has added another 21 recognized cryptocurrency scam sites to its ever growing list. The authority now recognizes 99 “cryptomonnaies” (Belgium’s surprizingly mellifluous word for cryptocurrencies) trading websites as being untrustworthy. At this rate, the list will be well over 100 by the new year.

Here’s the list of sites to avoid:

These sites are running about as simple a scam as you can imagine. They claim to sell Bitcoin, Ethereum, or other cryptomonnaies to visitors. The buyer will send their fiat to the merchant, who then simply walks away, without ever sending the cryptomonnaies owed to the buyer.

The FSMA has issued numerous warnings this year, and has been updating its list of known scammers since the end of February this year; sadly complaints continue to roll in.

Cryptomonnaies scams come in all shapes and sizes. They can be schemes masquerading as “airdrops” with the potential of winning free gifts. They could even be wrapped up in an ICO with the promise of great returns, which never materialize. Or maybe you thought you were buying a coin on the Play Store, only to find out it’s a low resolution image of the coin’s logo.

Let’s face it, scams, shills, and shitcoins are a fact of the cryptomonnaie life. Be careful out there.