FSMA Official Warning
On April 23, 2026, the FSMA added Sybbex to its official list of fraudulent trading platforms.
The regulator warned the public about online platforms that promise quick and easy profits. These platforms use attractive offers to lure investors, but they are sophisticated scams that often result in total financial loss.
Sybbex: MLM Crypto Ponzi Scheme
Sybbex was a multi-level marketing (MLM) cryptocurrency scheme. It was promoted by a man using the name “Boris” — presented as CEO — who spoke with an Eastern European accent. Marketing videos for Sybbex were filmed in Moscow, Russia.
The company asked investors to deposit Tether (USDT) with promises of up to 3.4% daily returns.
Timeline of Sybbex Collapse
- Launched: Early to mid-2024
- Collapsed: April 2025
The collapse happened around the same time Ireland’s Central Bank issued a securities fraud warning against Sybbex.
Belgium has now become the second country to issue a formal warning, more than 12 months after the platform had already collapsed.
Consumer Advice
Investors should stay away from platforms promising high daily returns on crypto. Always verify a company with your local financial regulator before sending money.
