Warning Against BTC20.com from FSMA
Overview of the Concern
The FSMA has issued a warning about the website BTC20.com, which is involved in the distribution of the BTC20 virtual currency.
Despite claiming a Belgian address, BTC20.com has failed to comply with Belgian regulations that require any virtual currency advertising campaign to be pre-notified to the FSMA.
Indications of Fraudulent Activities
Several red flags have been raised regarding BTC20.com, including:
- Consumer Complaints: Numerous consumers have reported to the FSMA that they have been unable to retrieve their invested funds.
- Invalid Contact Information: The contact details provided by BTC20.com seem to be inaccurate.
- Lack of Communication: BTC20.com has not responded to multiple information requests from the FSMA.Given these issues, the FSMA strongly advises the public to avoid engaging with any offers from this firm.
FSMA’s Reminder on Investment Fraud
The FSMA reminds everyone that investment scams frequently occur within the virtual currency sector. To prevent falling victim to these scams, the FSMA urges investors to verify the identity of any company offering investment opportunities.
This includes confirming details like the company’s name, country of registration, and physical address. Should there be any ambiguity in identifying the company, it is recommended to steer clear of any dealings with them.
Exercise Caution and Report Suspicions
It’s crucial to remain cautious. If you have any doubts or before making further payments, consider reaching out to the FSMA through their consumer contact form.
Additionally, the FSMA encourages the public to report any suspicious firms that haven’t been officially warned against yet, to help in the prevention of potential frauds.
For more details, visit the official warning page on the FSMA’s website
