Belgian financial watchdog’s crypto warning list hits 120 websites

The Financial Services and Markets Authority (FSMA) of Belgium added seven new websites to their crypto warning list, taking the overall number to 120.
The Belgian watchdog is one of many financial regulators with their own warning lists.

Rajarshi Mitra Independent Analyst

The Financial Services and Markets Authority (FSMA) of Belgium released a statement that they have added seven new trading platforms to their crypto warning list, taking the overall number up to 120 websites. The websites have been flagged as a result of user complaints. FSMA has flagged the following sites: www.bearsmarkets.com, www.btckingdom.com, www.directco-invest.com, www.maisonducoins.net, www.novoplacement.com, www.ripae-homine.com and www.tribelylimited.com.

FSMA stated:

“The principle remains the same: they offer you an investment they claim is secure, easy and very lucrative. They 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 You are told that your funds can be withdrawn at any time or that they are guaranteed. In the end, the result is always the same: the victims find themselves unable to recover their money!”

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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