The Belgian Financial Services and Markets Authority (FSMA) disclosed that in the second half of 2025, Belgian consumers lost a total of over 23 million euros due to cryptocurrency scams and WhatsApp investment frauds. Among these, fake cryptocurrency trading platforms caused losses of over 10.5 million euros, and stock scams that used social media and WhatsApp groups to spread "exclusive investment advice" resulted in losses exceeding 9.5 million euros. FSMA warns that unauthorized trading platforms remain a major risk source and urges the public to be cautious of investment invitations on social media and channels. (financefeeds)
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The Belgian Financial Services and Markets Authority (FSMA) disclosed that in the second half of 2025, Belgian consumers lost a total of over 23 million euros due to cryptocurrency scams and WhatsApp investment frauds. Among these, fake cryptocurrency trading platforms caused losses of over 10.5 million euros, and stock scams that used social media and WhatsApp groups to spread "exclusive investment advice" resulted in losses exceeding 9.5 million euros. FSMA warns that unauthorized trading platforms remain a major risk source and urges the public to be cautious of investment invitations on social media and channels. (financefeeds)