Financial Markets Authority (FMA) Warns of YouTube Scammers Targeting Crypto Investors

The Financial Markets Authority (FMA) has warned about crypto scams on YouTube luring investors with fake cryptocurrency platforms. Scammers use professional-looking videos, private group invites, and promises of guaranteed profits to trick victims. These fake platforms mimic legitimate crypto exchanges, making them appear trustworthy.

🔍 How These Scams Lure Victims:
1️⃣ Scammers post videos offering crypto trading tips or exclusive investment advice.
2️⃣ Victims are invited to join private WhatsApp or Telegram groups with promises of gifts or prizes.
3️⃣ Scammers pose as "mentors" or "experts", luring victims with claims like "$2,000–$7,000 daily with no risks".
4️⃣ Fake platforms are presented as legitimate exchanges, encouraging small initial investments.
5️⃣ Withdrawal requests are blocked or met with fake fees, leaving victims with significant losses.

🔑 FMA’s Advice to Stay Safe:
✅ Verify platforms on the Financial Service Providers Register (FSPR).
✅ Avoid sharing personal details or engaging with unknown group invites.
✅ Report scams to YouTube, WhatsApp, or Telegram.
✅ Contact your bank to reverse funds or trace transactions.
✅ Seek emotional and practical support through services like Victim Support.

Stay vigilant and protect your investments.

Read more: https://theholycoins.com/blog/financial-markets-authority-fma-warns-against-growing-youtube-crypto-scams-and-fake-investment

#YouTube #CryptoScamAlert #cryptoscams