FSMA Warns towards Clone of CoinDesk and 30 Fraudulent Buying and selling Platforms

Belgian Market Regulator Issues Warning: A Sharp Increase in Investment Scams
Thirty internet trading platforms have been reported by Belgium’s financial market regulator, the Financial Services and Markets Authority (FSMA), for providing unauthorised services within the nation. One of these is a copy of CoinDesk, a well-known news website run by Digital Currency Group (DCG). These platforms, whose names and website addresses suggest possible fraud, have been found to offer services related to cryptocurrency trading, wealth management, and contracts for difference (CFDs). Among these platforms are Coinsdesk (, a CoinDesk clone, ApexCryptoLive, Bitnexltd, FortuneFX, Spotchains, and Vexxsel.
The FSMA claims that in addition to being improperly authorised, the mentioned platforms engage in pushy sales tactics designed to persuade their victims to grant them remote access to their personal computers. The con artists have also been known to promise withdrawals following a second deposit or to entice victims to make more investments following a failed one. Because these operators are frequently located abroad, victims typically aren’t able to get their money back.
Two months after previously alerting thirty other online trading platforms to their illegal activity, the FSMA released the list. In comparison to the same period last year, there were 60% more investment scams in the first half of this year, according to their report on financial fraud published in October 2021.

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