The country’s financial regulator has also issued a new public warning about the most used technique in virtual asset Ponzi schemes.
Belgium’s Financial Services and Markets Authority (FSMA) has updated its fraudulent crypto site blacklist with 21 additions, the regulator stated on Friday. The agency also reminded investors to be very cautious before making any decision to participate in suspicious virtual coin trading schemes.
Five of the blacklisted sites were not available at 13:42 UTC on Friday: kryptonexlabs.com, cryptosafe.tech, parel-invest.com, save-coins.com, and tradabank.com.
The other sixteen are functionally normally, though Bk-coin.com, cryptonetto.com, dca-finance.com, and positive-ad.com have identical design, structure and inside content. Capital-traders.com, Iminage.com, lacentraledescryptomonnaies.com, trade-my-bitcoin.net, and kryptowize.com claim that international payment processors including Visa and MasterCard provide them with services although the logos of the four processors are static and do not direct to their websites, as is the usual business practice.
Capital-traders.com and finance-markets.com explain that both companies have Android and iOS applications, but again the logos are static and do not redirect to Google or Apple app stores.
Elos-patrimoine.com offers up to 3-5% minimum guaranteed monthly returns while cryptoallday.com targets investors with the “alternative investment approach” of hedging.
Afeau.com and investissement-crypto.com each claim that the platform supports investment in Bitcoin (BTC) while London-exchange.net offers trading in several cryptos including Dash (DASH), Stellar Lumens (XLM), Zcash (ZEC), and Litecoin (LTC).
The last FSMA blacklist crypto trading website is vip-brokers.com, but a Cryptovest visit to the site on Friday shows that the site has changed its model and now offers video on demand services.
“Swindlers may reach you in a number of different ways… The formulas vary: purchase of cryptocurrencies, savings accounts based on cryptocurrencies, management agreements, ICOs, etc.” the financial regulator explained in the cryptocurrency investment warning.
“Whatever the formula, the (false) promises are often the same: a very high rate of return, often around 8% per month (sometimes even more!); the possibility of withdrawing your money very easily and at any time (‘in a few clicks’); the funds deposited are guaranteed (often at 100%!), which means that even if the market collapses, you will recover at least your initial investment, which makes this a very safe type of investment.
So far, FSMA has blacklisted crypto sites several times with the latest additions bringing the total number to 99 trading platforms.