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Laxman Pai, Opalesque Asia:

Belgium's financial watchdog, the Financial Services and Markets Authority (FSMA) said it continues to receive multiple complaints from investors about fraudulent offerings related to investing in cryptocurrencies.

Hence the investor watchdog has updated its warning against the unauthorized activities of multiple cryptocurrency platforms that are offering investments in the country without complying with Belgian financial legislation.?

FSMA has added 28 new sites to its crypto-related fraud blacklist, as it reiterates its warnings to consumers. FSMA started publishing its "black list" of cryptocurrency platforms in February this year. The list, which is updated regularly, now shows 78 websites for the cryptocurrency category.

"Cryptocurrencies are the hype of the year. Fraudsters are well aware of that, and try to attract customers online through fake cryptocurrencies and huge profits. The only thing they actually do, however, is take the customers' money and disappear. It is as simple as that," stated a press release from FSMA. According to the agency, the latest list is not a comprehensive one, and has been largely as a result of victims' report.

The number of victims of cryptocurrency fraud clearly continues to increase, it said.

FSMA has been trying really hard to come down on these types crypto-related frauds for quite some time. It also puts a disclaimer that the list can't be considered as exhaus......................

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