The Ministry of Economy of Belgium (FPS), together with the Financial Services and Markets Department, launched a website on information that warns potential investors about fraudulent projects in the cryptocurrency industry.
A resource called “Too Good to Be True” is available in French and Flemish and lists the most famous fraudulent schemes.
“Be careful with online payment, investing in sports betting with the help of crypto currency and with investment platforms,” the website says.
The ministry also advises investors to verify the reliability of information about the organizers of the project and not to trust promises of easy earnings.
In addition, a fraudulent projects database has been created on the portal, through which users can “scan” the project. However, the developers do not exclude possible system errors, and also warn that some companies can change their names so as not to appear on the lists of fraudulent projects.
According to the FPS, Belgium’s residents lose about 130 million euros annually because of fraud in the crypto industry. However, only 4% of deceived investors report such cases.
Recall, in May, the Securities and Exchange Commission (SEC) for educational purposes launched a website to promote the non-existent and fraudulent original offer of coins (ICO) HoweyCoin. Thus, the regulator hopes to visually demonstrate to potential crypto investors how the unconditional fund-raising campaign looks clearly.