Crypto Scams in Belgium
Fraudulent cryptocurrency schemes targeting Belgian investors through fake exchanges and celebrity-endorsed token projects, exploiting Belgium's fintech growth.
Part of: Crypto Scams
Last reviewed: 1 June 2026
Belgium's growing crypto investor base and the presence of numerous EU financial institutions in Brussels make it a target for both domestic and cross-border crypto fraud. Fake exchanges claiming FSMA oversight and celebrity-endorsed token projects are the most common vectors, accepting EUR via Bancontact or SEPA before blocking withdrawal.
FSMA has a dedicated investor-warning page listing fraudulent crypto platforms, and the Federal Judicial Police track crypto fraud volumes. Belgian victims report losses across a wide range, from hundreds to hundreds of thousands of EUR.
How this scam works on Belgium
Social-media adverts in French and Dutch feature fabricated endorsements by Belgian business figures for automated crypto trading systems. After clicking, a broker calls in French or Dutch offering a 'limited onboarding allocation'.
Victims deposit EUR via Bancontact or bank transfer and see impressive dashboard returns. When they attempt withdrawal, invented FSMA compliance fees or 'Belgian crypto tax pre-payment' requirements are applied.
Phishing campaigns impersonate legitimate Belgian fintech or crypto services using near-identical Belgian-Dutch or Belgian-French language interfaces.
Common red flags
- Crypto platform claiming FSMA authorisation not verifiable at fsma.be
- Belgian celebrity endorsement for a crypto product in a social-media ad
- Withdrawal blocked by invented FSMA compliance fees
- Bancontact payment directed to an unverified third-party account
- Platform cannot provide verifiable Belgian CBE (Crossroads Bank for Enterprises) number
- Login page URL differs slightly from a known exchange or fintech domain
How to protect yourself
- Check FSMA's warning list and register at fsma.be before investing in any crypto platform
- Verify the company's CBE number at kbo.economie.fgov.be
- Use only EU MiCA-registered exchanges
- Never enter credentials via email or messenger links
- Report suspicious exchanges to FSMA before depositing
- Use hardware wallets for significant crypto holdings
How to report it
- Report to FSMA at fsma.be/en/contact
- Report phishing to CCB via [email protected]
- File a complaint with Federal Judicial Police at polfed.be
Frequently asked questions
Does FSMA regulate crypto exchanges in Belgium?
Under EU MiCA rules from 2024, virtual asset service providers in Belgium require FSMA registration. Verify any exchange at fsma.be before depositing EUR.