Watch Out For Scams With Cryptocurrencies

Watch Out For Scams With Cryptocurrencies

The FSMA warns against fraudulent cryptocurrency platforms that promise performance that is too good to be true.

The FSMA is still receiving more complaints from consumers who have responded to offers of investment in cryptocurrencies. What prompt the guarantor of consumer protection to reiterate his warning.

“Behind platforms offering to invest in cryptocurrencies, often hide fraudsters who have decided to make cryptocurrencies their new scam!” There are many investors to report funds invested, never recovered or outright absence of any news of the company.

Watch Out For Scams With Cryptocurrencies
Watch Out For Scams With Cryptocurrencies

The FSMa has thus listed all the cryptocurrency trading platforms on which it has received questions / complaints from consumers; a list that is not exhaustive.

What to do to avoid scams?

  • Prudence is probably the best advice
  • Check the identity of the company. Without clear identification, do not trust. Identity theft cases are not uncommon.
  • Be wary of companies or websites that have been in existence for less than a year.
  • Always ask for clear and understandable information

Remain critical of this information: “Many cryptocurrency trading platforms promise guaranteed returns or protection of your entire capital, but such promises in the cryptocurrency industry are illusory!”

karen Swicks

Karen covers all things animals here at WNL. Previously, Karen was a House leadership reporter for Roll Call, and a legislative action reporter for CQ. When Karen isnt busy wriing about the odd world of animals, she can usually be found on her hobby farm in North Eastern Ontario..

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