Belgium's FSMA Warns Against Three Fraudulent Crypto Trading Platforms

The FSMA warns consumers against fraudulent online platforms purportedly specialized in crypto trading, and reminds the public that scammers are very inventive and take advantage of trendy financial products to make new victims.

Fraudulent crypto trading platforms try to arouse consumers' curiosity by contacting them on social media (notably via Telegram, Instagram and WhatsApp). These platforms promise that you will get rich by investing in cryptocurrencies and claim that your funds can be withdrawn at any time or that they are guaranteed. However, these offers are too good to be true. Be vigilant, since despite these promises, you will never get your money back!

These platforms offer investment services connected solely with cryptocurrencies. That is where they differ from other trading platforms, against which the FSMA has already warned investors, that not only offer to invest in cryptocurrencies but also in other products such as binary options, CFDs or forex products.

Victims lured into investing with these platforms complain in particular about:

• finding themselves unable to recover their money,

• simply not hearing any more from the platform with which they have invested their money, or

• being pressured to make additional payments (supposedly to cover levies or taxes).

The FSMA strongly advises against responding to any offers of financial services made by the following trading platforms:

• https://cryptoprofitfx.com/

• www.tenndex.com

• www.xmsite.live and www.xmsite-coin.com