FSMA: Bitcoin-Evolution / Bitcoin-Revolution

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Bitcoin-Evolution and Bitcoin-Revolution, entities that offers investments without complying with Belgian financial legislation.

Bitcoin-Evolution and Bitcoin-Revolution are not allowed to provide banking and/or investment services in or from Belgium.

Those entities approach Belgian consumers through publications on social media and fake press articles relaying fake ‘statements’ and / or ‘interviews’ of public figures praising certain financial investments. These publications and fake press articles circulate on the internet mainly via fake news sites as well as on Facebook via sponsored advertisements. The aim of this practice is to make investment offers appear credible by unwittingly using the image of well-known personalities in the business, sports or media sectors.

Victims of this fraud have often been contacted by telephone after leaving their contact details and / or after clicking on a social media advertisement or on a fake press article.

The FSMA therefore strongly advises against responding to any offer of financial services made by Bitcoin-Evolution and Bitcoin-Revolution and against transferring money to any account number they might mention.

The FSMA also reminds the public that in the vast majority of cases, persons who invest in firms that do not hold the requisite authorization never recover the sums invested. These are cases of investment fraud.

Bitcoin-Revolution has also been the subject of a warning by the Maltese supervisory authority (MFSA (link is external)).

Bitcoin-Evolution and Bitcoin-Revolution also present links with several fraudulent online trading platforms about which the FSMA has also issued warnings:

  • CFreserve
  • Global-Markets
  • MasonFord
  • FlixGM
  • CryptoSFS
  • MGCLogic
  • VIPwayzone
  • Key-Markets
  • Hope-Area
  • Investingcapital

Would you like to enquire more generally as to whether a transaction being proposed complies with the financial legislation? Please use the search function on the FSMA website. You can also contact the FSMA directly via the consumer contact form.

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