According to a new regulatory notice released by Belgium’s Financial Services and Markets Authority (FSMA), the agency has stated that it has recently added a total of 21 new crypto websites to its list of “scammy ventures”. As a result of this, investors have now be warned to stay away from these projects since they can potentially make users lose all of their hard earned funds overnight.
Five of the names that are present on the list but have gone offline since the notice was released include:
Some of the other names include Bk-coin.com, cryptonetto.com, dca-finance.com, positive-ad.com, Capital-traders.com, Iminage.com, lacentraledescryptomonnaies.com, trade-my-bitcoin.net, and kryptowize.com.
More On The Matter
Out of the various projects that have been blacklisted, Capital-traders.com and finance-markets.com are two companies that claim to have Android and iOS applications— but when the associated logo is clicked upon, it turns out that the icon is static and does not direct users to a download page.
Similarly, Elos-patrimoine.com and cryptoallday.com make use of hedging as an “alternative investment approach”.
Lastly, in relation to the matter, the Belgian FSMA had the following words of wisdom:
“Swindlers may reach you in a number of different ways… The formulas may vary: purchase of cryptocurrencies, savings accounts based on cryptocurrencies, management agreements, ICOs, etc. 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');”
In all, the FSMA’s blacklist has now grown to include a total of 99 projects. It now remains to be seen how many of these ventures come forth and defend their positions in relation to their products.