BELGIUMS FINANCIAL WATCHDOG UPDATES CRYPTO-RELATED BLACKLIST TO TOTAL OF 120 WEBSITES

Last updated: June 19, 2025, 19:19 | Written by: Naval Ravikant

The allure of quick riches in the cryptocurrency market continues to draw unsuspecting investors, but lurking beneath the surface are sophisticated scams designed to defraud individuals of their hard-earned money.In response, Belgium's Financial Services and Markets Authority (FSMA), the country's financial watchdog, has been actively monitoring the digital landscape and issuing warnings about fraudulent crypto platforms. According to an official statement of April 4, the Financial Services and Market Authority of Belgium (FSMA) updated the black list of crypto sites related to fraud.As of April 4th, the FSMA has updated its crypto-related fraud blacklist, now encompassing a staggering 120 websites. Efforts to curb crypto-related crimes have intensified in Belgium as the country s Financial Services and Markets Authority (FSMA) revealed in a notice today that they have added new websites to their black book. The latest additions bring the total number of crypto scam websites in Belgium toThis list serves as a crucial resource for Belgian citizens, alerting them to platforms that exhibit signs of fraudulent activity. Belgium s Financial Services and Markets Authority updated its crypto-related fraud blacklist to total of 120 websites. Belgium s Financial Services and Markets Authority (FSMA) has updated a blacklist of crypto-related websites associated with fraud, according to an official statement on April 4.Despite repeated warnings, the FSMA continues to receive complaints from defrauded investors, highlighting the persistent nature of these scams. 23 Sunday February 2025. About; Advertise; Submit Press Release; Contact Us; News. Bitcoin News. Bitcoin News; Bitcoin Cash News; Bitcoin SV NewsThis update, following a previous alert in December 2025 that listed 113 sites, underscores the need for increased vigilance and caution when navigating the world of digital assets. With the new additions, the complete warning list of the FSMA which identifies cryptocurrency entities that have signs of fraud now includes a total of 120 websites. Unfortunately, this is just a glimpse into cryptocurrency scams, as the Belgian watchdog is one out of many financial regulators with their own warning lists.This article will delve into the details of the FSMA's actions, the types of scams to watch out for, and how you can protect yourself from becoming a victim of crypto fraud.

The Growing Threat of Crypto Scams in Belgium

The ever-evolving landscape of cryptocurrency presents both exciting opportunities and significant risks.Unfortunately, malicious actors are constantly developing new and innovative ways to exploit investors, making it imperative to stay informed and exercise caution. In a fresh alert posted Dec. 18, Belgium s Financial Services and Markets Authority (FSMA) has included a new total of 113 sites in its updated crypto-related fraud blacklist. The authority states that it continues to receive complaints from defrauded investors despite warnings.The FSMA's updated blacklist is a direct response to the growing number of complaints received from Belgian citizens who have fallen victim to these schemes.These complaints often involve platforms promising unrealistic returns, using aggressive marketing tactics, or operating with a lack of transparency.

Why are crypto scams so prevalent?

Several factors contribute to the proliferation of crypto scams:

Lack of Regulation: The relatively new and often unregulated nature of the cryptocurrency market makes it an attractive environment for fraudsters.
Anonymity: Cryptocurrencies offer a degree of anonymity, making it difficult to track down and prosecute scammers.
High Potential Returns: The promise of high returns can cloud judgment and lead investors to overlook red flags.
Complexity: The technical complexity of cryptocurrencies can make it difficult for the average person to understand the risks involved.
Global Reach: Scammers can operate from anywhere in the world, making it challenging for regulators to take action.

FSMA's Role in Protecting Investors

The FSMA plays a vital role in safeguarding the financial interests of Belgian citizens. Belgium s Financial Services and Markets Authority updated its crypto-related fraud blacklist to total of 120 websites. Belgium s Financial Services and Markets Authority (FSMA) has updated a blacklist of crypto-related websites associated with fraud, according to an official statement on April 4. Following a previous crypto-related scam blacklist update in December 2025, the FSMA hasIts primary responsibilities include:

Supervising financial markets and institutions.
Ensuring the integrity and transparency of financial markets.
Protecting consumers of financial products and services.
Promoting financial education.

In the context of cryptocurrency, the FSMA focuses on identifying and warning the public about potentially fraudulent platforms.The updated blacklist is a key tool in this effort.By publishing this list, the FSMA aims to deter investors from using these platforms and to raise awareness about the risks associated with crypto investments.

Understanding the FSMA Crypto Blacklist

The FSMA's crypto blacklist is a list of websites identified as exhibiting signs of fraud. Belgium s Financial Services and Markets Authority (FSMA) has updated its crypto-related fraud blacklist to include a new total of 113 sites. Please note, this is a STATIC archive of website cointelegraph.com from, cach3.com does not collect or store any user information, there is no phishing involved.This means the FSMA has reason to believe that these platforms are engaging in activities that could harm investors. Belgium s Financial Services and Markets Authority (FSMA) has updated a blacklist of crypto -related websites associated with fraud, according to an official statement on April 4.While the list is not exhaustive, it provides a valuable resource for individuals considering investing in cryptocurrencies.

What does it mean to be on the blacklist?

Being placed on the FSMA's crypto blacklist indicates that the platform has raised concerns with the regulator.These concerns may include:

Unrealistic promises of returns.
Lack of transparency about the platform's operations.
Aggressive marketing tactics.
Difficulty withdrawing funds.
Unlicensed operation.

It's important to note that being on the blacklist is not a definitive judgment of guilt. Belgium s financial watchdog has added 28 new sites to its crypto-related fraud blacklist, noting that investors continue to fall victim to crypto scams. Please note, this is a STATIC archive of website cointelegraph.com from, cach3.com does not collect or store any user information, there is no phishing involved.However, it should serve as a significant red flag and prompt investors to exercise extreme caution.

How to use the FSMA blacklist effectively

The FSMA blacklist is publicly available on the FSMA website.Before investing in any cryptocurrency platform, it is crucial to:

Consult the blacklist: Check if the platform you are considering is listed.
Research the platform: Even if the platform is not on the blacklist, conduct thorough research to verify its legitimacy.
Be wary of unrealistic promises: If a platform promises guaranteed or exceptionally high returns, it is likely a scam.
Understand the risks: Cryptocurrencies are volatile investments, and you could lose money.
Seek professional advice: Consult with a financial advisor before making any investment decisions.

Types of Crypto Scams to Watch Out For

Crypto scams come in various forms, each designed to lure unsuspecting investors.Understanding these tactics is crucial for protecting yourself.

Pump-and-Dump Schemes

Pump-and-dump schemes involve artificially inflating the price of a cryptocurrency through misleading positive statements, only to sell off the holdings at a profit before the price crashes. Belgium's Financial Services and Markets Authority has updated its crypto-related fraud blacklist to include a new total of 113 sites, in a fresh alert posted Dec. 18. The authority states that Despite its prior warnings, it continues to receive complaints from defrauded investors.This leaves other investors with significant losses.

Example: A group of individuals spreads false rumors about a new cryptocurrency, creating artificial demand.They then sell their own holdings at a high price, leaving unsuspecting investors holding worthless tokens.

Phishing Scams

Phishing scams involve tricking individuals into revealing sensitive information, such as passwords and private keys, through deceptive emails, websites, or messages.

Example: You receive an email that appears to be from your cryptocurrency exchange, asking you to update your password. 根據4月4日的官方聲明，比利時金融服務和市場管理局（fsma）已經更新了與欺詐相關的加密貨幣相關網站的黑名單。繼2025年12月之前的加密貨幣相關騙局黑名單更新後，fsma增加The link in the email leads to a fake website that steals your login credentials.

Ponzi Schemes

Ponzi schemes promise high returns to investors, but instead of generating profits, they pay early investors with money from new investors.These schemes eventually collapse when they can no longer attract new participants.

Example: A platform promises guaranteed daily returns on your cryptocurrency investments.The returns are actually paid from the deposits of new investors, creating a unsustainable cycle.

Rug Pulls

Rug pulls are a type of scam where the developers of a cryptocurrency project abandon the project and run away with investors' money.

Example: The creators of a new decentralized finance (DeFi) project suddenly shut down the platform and disappear with all the funds invested by users.

Investment Scams

Investment scams involve fraudulent investment opportunities, often promising unrealistic returns or using aggressive sales tactics.

Example: You are contacted by a ""crypto expert"" who offers to manage your cryptocurrency investments for a guaranteed profit. Menu. Home; Bitcoin Chart; Cryptocurrency News; Live PricesIn reality, they simply steal your funds.

Protecting Yourself from Crypto Fraud

While the risks associated with cryptocurrency investments are real, there are steps you can take to protect yourself from becoming a victim of fraud.

Due Diligence is Key

Before investing in any cryptocurrency or platform, conduct thorough research. Following a previous crypto-related scam blacklist update in December 2025, the FSMA has added seven new crypto trading platforms where it has found signs of fraud. The blacklist now includes a total of 120 websites.This includes:

Reading the whitepaper: Understand the project's goals, technology, and team.
Checking the team's credentials: Verify the experience and reputation of the team members.
Analyzing the tokenomics: Understand the token's supply, distribution, and utility.
Reading reviews: See what other users are saying about the platform or project.
Searching for red flags: Be wary of unrealistic promises, lack of transparency, and aggressive marketing tactics.

Secure Your Cryptocurrency Wallets

Protect your cryptocurrency wallets with strong passwords and enable two-factor authentication. The blacklist now includes a total of 120 websites. Belgium s Financial Services and Markets Authority (FSMA) has updated a blacklist of crypto-related websites associated with fraud, accordingConsider using a hardware wallet for added security.

Use a strong, unique password: Avoid using the same password for multiple accounts.
Enable two-factor authentication (2FA): Add an extra layer of security to your account.
Store your private keys securely: Never share your private keys with anyone.
Consider a hardware wallet: Hardware wallets store your private keys offline, making them more secure than software wallets.

Be Skeptical of Unsolicited Offers

Be wary of unsolicited offers or investment opportunities, especially those that promise guaranteed or exceptionally high returns. Belgium s Financial Services and Markets Authority (FSMA) has updated its crypto-related fraud blacklist to include a new total of 113 sites, in a fresh alert posted Dec. 18. The authority states that despite its prior warnings, it continues to receive complaints from defrauded investors.If it sounds too good to be true, it probably is.

Never click on suspicious links: Avoid clicking on links in emails or messages from unknown senders.
Do not share personal information: Never share your passwords, private keys, or other sensitive information with anyone.
Be wary of pressure tactics: Scammers often try to pressure you into making quick decisions.

Report Suspicious Activity

If you suspect that you have been targeted by a crypto scam, report it to the FSMA and other relevant authorities.Reporting suspicious activity can help prevent others from becoming victims.

Contact the FSMA: Report the scam to the Belgian Financial Services and Markets Authority.
File a police report: Report the scam to your local police department.
Report to the cryptocurrency exchange: If the scam involved a cryptocurrency exchange, report it to the exchange.

The Global Perspective on Crypto Regulation and Scams

Belgium is not alone in its efforts to combat crypto-related fraud. Belgium s Financial Services and Markets Authority (FSMA) has updated a blacklist of crypto-related websites associated with fraud, according to an official statement on April 4. Following a previous crypto-related scam blacklist update in December 2025, the FSMA has added seven new crypto trading platforms where it has found signs of fraud. The blacklist now includes a total of 120 websites.Financial regulators around the world are grappling with the challenges posed by this rapidly evolving market.Many countries have issued warnings about the risks of cryptocurrency investments and are working to implement regulatory frameworks to protect investors.

Examples of international efforts

United States: The Securities and Exchange Commission (SEC) has been actively investigating and prosecuting crypto scams.
European Union: The EU is working on a comprehensive regulatory framework for crypto assets known as MiCA (Markets in Crypto-Assets).
United Kingdom: The Financial Conduct Authority (FCA) has issued warnings about the risks of investing in crypto assets and has taken action against fraudulent platforms.

The global nature of the cryptocurrency market requires international cooperation to effectively combat fraud. A Belgian regulator is warning citizens about the associated risks of dealing with cryptocurrencies after identifying seven new scam websites, bringing the total to 120.Regulators are sharing information and coordinating their efforts to protect investors and maintain the integrity of the financial system.

Future Trends in Crypto Regulation

As the cryptocurrency market continues to mature, we can expect to see increased regulation and enforcement.This will likely include:

Licensing requirements for crypto exchanges and service providers.
Regulations on initial coin offerings (ICOs) and other token sales.
Anti-money laundering (AML) and know-your-customer (KYC) requirements.
Increased monitoring and enforcement of crypto-related crimes.

These regulations are intended to protect investors, prevent illicit activities, and foster a more stable and transparent cryptocurrency market.

The Importance of Financial Literacy

A key factor in preventing crypto scams is financial literacy.Individuals who understand the risks and complexities of cryptocurrency investments are less likely to fall victim to fraud. Belgium s Financial Watchdog Updates Crypto-Related Blacklist to Total of 120 WebsitesFinancial education initiatives can empower individuals to make informed investment decisions and protect themselves from scams.

Resources for financial education

FSMA website: The FSMA provides a wealth of information on financial education and investor protection.
Financial advisors: Consult with a qualified financial advisor to get personalized advice.
Online courses and resources: Many online courses and resources are available to help you learn about finance and investing.

Conclusion: Stay Vigilant and Informed

Belgium's Financial Services and Markets Authority's (FSMA) update to its crypto-related blacklist, now totaling 120 websites, serves as a stark reminder of the ongoing threat of fraud in the cryptocurrency market.While the allure of high returns may be tempting, it is crucial to approach crypto investments with caution and due diligence.This means understanding the risks, researching platforms thoroughly, and being skeptical of unrealistic promises. Belgium s Financial Services and Markets Authority (FSMA) has made an additional update to its blacklist of cryptocurrency-related websites associated with fraud. On Oct. 29, Belgium sRemember that this is just one watchdog's list, and similar issues occur globally.By staying informed, securing your wallets, and reporting suspicious activity, you can protect yourself from becoming a victim of crypto scams. The blacklist now includes a total of 120 websites. In the statement, the financial authority noted that it continued to receive new complaints of consumers who invested in cryptocurrencies on those trading platforms, adding that crypto fraud is still taking place in Belgium.The FSMA's blacklist is a valuable tool, but it's just one piece of the puzzle. Financial literacy and a healthy dose of skepticism are your best defenses. Don't let the fear of missing out (FOMO) cloud your judgment.Invest wisely, and always prioritize your financial security.Always remember that in the world of cryptocurrency, as in any investment, if it sounds too good to be true, it probably is.