Crypto and forex scammers defraud Belgians of at least €10 million

From May 2019 through September 2020, Belgian citizens lost at least €10 million due to fraudulent online platforms. Among them were cryptocurrency projects, считают in the Financial Services and Markets Authority (FSMA).

Authorities said that such platforms offer investments in binary options, forex products, or cryptocurrencies. In the first half of 2020 alone, FSMA logged 27.78% of complaints related to this category of fraud.

“These platforms use very aggressive methods to persuade you to invest large sums and grant remote access to your computer to carry out certain payments,” FSMA representatives said.

According to them, to promote these schemes criminals use false advertising featuring images of celebrities. When you click such an advertisement on social networks, victims land on an operator who offers to discuss an “investment proposal.”

Apart from crypto assets, other financial instruments are used: contracts for difference, currency-based products, or lending on “favourable” terms. To avoid being deceived, FSMA advises verifying the company and not falling for promises of large profits.

Earlier, the auction house Wilsons Auctions put up for sale the cryptocurrency seized by Belgian police. The total value of the lots in Bitcoin, Bitcoin Cash and Bitcoin Gold exceeded €110,000.

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