Belgium Flags 51 Scam Platforms; BaFin Warns on Crypto Site

Published October 5, 2026, 04:36 UTC. Based on regulator notices dated September 24 and October 2, 2026.

European financial regulators have issued fresh warnings about online investment platforms. Belgium's Financial Services and Markets Authority (FSMA) added 51 platforms to its fraud list on September 24, and Germany's Federal Financial Supervisory Authority (BaFin) warned consumers about btcx(.)investments in a notice dated October 2.

Belgium: 51 more fraudulent platforms

The FSMA said the platforms lure investors online "with promises of quick and easy earnings" and called them "nothing more than advanced scams." It split its list into two groups.

The first group is websites that put consumers in contact with fraudulent trading platforms. These include Chain Eprex Pro, Chain Flomax Lab, EthAMG 2.6, Gent Beursveks, Koersaven and Zauren Flux, among others.

The second group is platforms whose offers the FSMA "strongly advises against" answering. Names include Aurvixo, Axoria Markets, Evergrid AI, ICBC Markets, MT5 Novatrade, Pro-TRX, Xcoinmarketing, Xypher Markets and Xypherpro. Several entries, such as Bonmot Invest, Canford Castle and Fid Europeed, are flagged as clones, meaning they imitate the name of a real firm.

The regulator stressed that its list "is not complete" but is updated often, and pointed investors to its "Check your provider" page.

Germany: warning under crypto law

BaFin said the operators of btcx(.)investments are providing banking business and/or financial services without the required authorisation and are not supervised by BaFin. It said it is investigating the operators.

BaFin issued the warning under section 10(7) of Germany's Cryptomarkets Supervision Act (KMAG), the law that governs crypto-asset services in the country. It added that BaFin, the Federal Criminal Police Office (BKA) and the state criminal police offices are urging consumers to watch out for online financial fraud.

If you have been targeted

The FSMA's advice to victims is to stop all payments and break off contact with the platform, tell your bank right away, report the fraud to the FSMA and the police, and keep records of all messages and transactions. It also warned about "recovery rooms," where fraudsters contact earlier victims and offer, for a fee, to get their money back. The regulator said this is generally another attempt at fraud.

Before using any investment or crypto platform, check that it is authorised with your national regulator. Our explainer on how to spot a crypto scam covers common warning signs.

This article is news reporting and is not investment advice.

Sources

• FSMA, 51 new fraudulent platforms added to the FSMA's list (Sept. 24, 2026; full list of names and domains)
• BaFin, btcx(.)investments: Bafin warns consumers about website (dated Oct. 2, 2026)