Belgian Regulator Says €10M Lost In Cryptocurrency Fraud

Law360, London (October 7, 2020, 5:44 PM BST) -- Victims of fraudulent online platforms that offer investments in cryptocurrencies and other financial products lost approximately €10 million ($11.7 million) in the last 17 months, the Belgian financial regulator said as it urged consumers to beware of the scams.

The platforms lure their targets through fake advertisements that typically use images of celebrities, who are probably not aware that they are being exploited. Would-be investors who click on the adverts, which are placed on social media, are phoned by the swindlers to discuss an investment offer, the Financial Services and Markets Authority said.

"These platforms often use very aggressive methods to...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!