Cryptocurrencies: beware of scams


Cryptoasset scams can be avoided. © Shutterstock)

Investment scams have shifted to crypto-assets. A source of growing concern for the Autorité des marchés financiers. The “Revenu” gives you its advice to check if your bitcoin platform is approved in France.

Hacked crypto-asset wallets, exchange platforms unable to return bitcoins or ethers… The list is long of the pitfalls faced by French savers who invest in cryptocurrencies.

The custody obligations of trading platforms are much lower than those of a bank and downright zero if you transfer your assets to a “cold wallet”, in other words to an external wallet disconnected from the Internet like Ledger. And then there are the outright scams.

“The Retraining of Forex Scammers [marché des changes] towards crypto-assets, observed in previous years, is clearly confirmed this year”, reveals Marielle Cohen-Branche, mediator of the Autorité des marchés financiers (AMF) on the occasion of the presentation of her annual report for 2021. She identified forty-four dispute files with service providers of digital assets (PSAN).

Admittedly, this is still a small share of the mediation requests received (nearly 2,000), but it is worrying. And all the more so since the AMF mediator has an extremely limited capacity to intervene. Of the forty-four files concerning crypto-assets, only six fell within its field of competence!

Choose an actor registered by the AMF

“I can only intervene if the service provider

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