Cryptocurrency fraud accounts for about half of the complaints received by the agency. Fraudsters systematically contact victims who have already lost funds in some scheme. The scammers offer to help recoup the losses incurred. The number of people who contacted FSMA with such complaints in the first half of the year increased by 59% compared to the same period in 2023.
“The number of complaints received by FSMA about cryptocurrency scams has increased significantly. In the first six months of 2024, FSMA received 1,332 reports of illegal activity from consumers. While in the first half of 2023, there were 925 complaints,” the regulator announced.
More than half (52.3%) of the complaints were from people who lost money in crypto scams or credit fraud. The rest requested information from FSMA about illegal activities or suspicious market participants, but did not have time to invest in suspicious projects.
Several years ago, Belgium proposed to restrict Bitcoin transactions, and FSMA called on the government to hurry up with the development of regulations for cryptocurrencies.
Source: Bits
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