This headline claims: “CRYPTOCURRENCY TRADING PLATFORMS: BEWARE OF FRAUD!” Today the watchdog added 8 cryptocurrency exchanges that it considers suspicious - bringing the total up to a round 50. On their website the FSMA declares that the latest update features crypto trading firms whose clients bewailed about not gaining their means back after investing.
There are also statements made by one of the customers who was stolen from. As claimed by this person (all names are redacted), he was reportedly contacted by a French individual who worked for a crypto exchange, placed in the UK, and after a talk sent the company some money for trading. To make a long story short, the person then asked for a withdrawal and did not receive it.
The FSMA underlines that it makes up its list in accordance with the notices made on the basis of customer complaints. It warns people to be wary of promises of proportionate gains, and to always verify the identity of who they are dealing with. A similar remit was made by the French financial watchdog, Autorité des Marchés Financiers, a few days ago. The alert is formulated differently; it reports about 4 companies suggesting “atypical investments” made without authorisation. 2 on the list relate to the same entity (solutioncrypto.com/solution-crypto.com), though the latter is not a functioning website.
Several months ago, in March, the AMF issued a list of 15 cryptocurrency firms that were processing without a licence.