FSMA warns against bogus cryptocurrency investment platforms

The Financial Services and Markets Authority, FSMA, has warned against platforms proposing investments in crypto-currencies on the World Wide Web, noting that scammers have often been behind these platforms, which have been mushrooming on the Internet in recent weeks.

The Authority has already received numerous complaints from consumers who say they never retrieved their funds or that they had had no more news of the so-called investment companies. In such cases, it was purely and simply investment fraud, FSMA said.

The Authority called on would-be investors to exercise greater caution and check the seriousness of the platforms.

FEMA said many crypto-currency trading platforms promise guaranteed yields or protection for the investor’s entire capital, but that such promises in the crypto-currency sector are illusory.

FSMA also said it keeps a list of trading platforms about which it has received complaints.

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