From may 2019 to September 2020, Belgian citizens lost at least 10 million euros due to fraudulent online platforms. Among them were cryptocurrency projects, according to the country’s financial services and markets authority (FSMA).
The Agency said that such platforms offer investments in binary options, Forex products, or cryptocurrencies. In the first half of 2020 alone, the FSMA counted 27.78% of complaints related to this category of fraud.
“These platforms use very aggressive methods to convince you to invest large amounts and provide remote access to your computer to make certain payments,”
FSMA representatives said.
According to them, hackers use false advertising with images of celebrities to promote the schemes. When switching from such an ad in social networks, victims get to the operator who offers to discuss the “investment offer”.
In addition to crypto-assets, other financial instruments are also used: contracts for difference, products based on foreign currencies, or lending on “favorable” terms. To avoid deception, the FSMA recommends checking the company and not being led by tempting promises of large profits.
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