French regulator updates list of online crypto-scams

September 26, 2018
Chris Wheal

French stock market regulator, Autorité des marchés financiers (AMF), updated its list of online scam investment websites including a number connected to cryptocurrencies on Wednesday.

The AMF warns investors that the list is not exhaustive and that websites are likely to change quickly and directs them to a site with a more expansive listing.

The data surrounding cryptoscams is stark. Around $9m a day is feared to have been lost to investors from activities such as phishing, fraud, hacking and outright theft.

Regulators continue to shine a light on shadier aspects of the industry such as the suspected manipulation of bitcoin’s skyhigh increase last year leading to further investigation by the Department of Justice.

More recently New York state’s Attorney General office issued a report on cryptocurrency exchanges’ lack of transparency and inability to among other things spot suspicious trading patterns due to a lack of “robust real-time and historical market surveillance capabilities”.

 

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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