Blab Crypto
CONSOB Blocks Six More Unauthorized Investment Sites, Total Reaches 1,799 Domains
On 31 July 2026, Italy’s financial watchdog, the Commissione Nazionale per le Società e la Borsa (CONSOB), ordered internet service providers to cut off access to six additional websites that were offering investment services without the required licence. The new sites—AONCFD, Wallex Markets BV, Valore Capital, Igcapitaleurope.com, Dortuviax, and Market Capital FX—have been added to a blacklist that now contains 1,799 domains restricted since July 2019.
The order follows a sustained enforcement campaign that has made Italy one of Europe’s most active markets for blocking unregulated financial platforms. Of the 1,799 domains, 233 are linked to crypto‑asset activities, reflecting the regulator’s expanded remit under the European Union’s Markets in Crypto‑Assets Regulation (MiCAR) and Italy’s implementing legislation.
CONSOB’s strategy centres on shutting down domestic access to suspected scam platforms before they can attract further deposits. By instructing Italian ISPs to block these sites, the regulator can effectively keep investors from reaching the platforms, although the technical implementation can take several days. The authority to block sites was granted to CONSOB through the 2019 Growth Decree, later extended to cover digital‑asset services.
The pace of enforcement has accelerated in 2026. At the beginning of March, CONSOB had blocked 1,599 websites; by mid‑July the number had risen to 1,769, and the latest order brings the total to 1,799. New orders are issued almost weekly, typically covering between six and 24 websites at a time. Earlier in July, the regulator blocked four sites offering unauthorized investment services and two platforms providing crypto‑asset services without approval.
Scammers frequently shift between product categories, advertising foreign‑exchange trading, crypto investments, and automated investment tools through the same website. A polished interface, a European‑sounding company name, or a sophisticated trading dashboard does not prove that a platform is licensed. Investors are advised to verify authorisation through the official regulatory register before opening an account or transferring funds.
CONSOB has noted that fraudulent investment promotions are becoming harder to spot as operators combine established scam techniques with artificial‑intelligence–generated material. Some platforms use cloned websites and client portals that resemble regulated brokers, banks, or investment firms. Others operate through several domains, allowing them to redirect potential victims when one address is reported or blocked.
The regulator has highlighted the use of AI‑generated images, cloned voices, and fabricated videos featuring politicians, celebrities, and well‑known financial figures. Such material can appear in online advertisements or direct messages, encouraging consumers to open accounts, follow supposed trading advice, or deposit funds with an unlicensed platform.
While blocking orders reduce the number of Italian users reaching a suspected scam through its main domain, they do not remove the operator from the internet or recover money already transferred. Fraudulent businesses can register replacement domains, change names, or use social‑media and messaging applications to continue contacting potential victims. Multiple domains and mirror websites have therefore become common features of online investment operations.
Implementation is not immediate. Italian ISPs generally need several days to apply a new restriction across their networks, leaving some websites temporarily accessible after CONSOB publishes an order.
Despite these limitations, the rapid increase in blocked domains shows that regulators are prioritising pre‑emptive disruption. The addition of MiCAR powers gives CONSOB a clearer route to act against crypto businesses serving Italian customers without authorisation.
The blacklist’s approach toward 1,800 domains points to a persistent enforcement problem rather than a temporary wave of misconduct. For consumers, checking a regulator’s register, avoiding unsolicited investment offers, and refusing to transfer funds based on social‑media promotions remain the most practical defenses.
The current situation underscores the ongoing challenge of policing online investment platforms that blend traditional financial fraud with digital‑asset schemes. While the regulator’s actions curb immediate access, the broader issue of platform migration and the use of sophisticated AI‑driven deception continues to evolve.
In the coming months, CONSOB is expected to maintain its weekly blocking cadence as it monitors new domains and responds to emerging fraud tactics. The regulator’s continued focus on enforcement, combined with the regulatory framework established by MiCAR, aims to protect Italian retail investors from unauthorised investment services and crypto‑asset scams.
The order follows a sustained enforcement campaign that has made Italy one of Europe’s most active markets for blocking unregulated financial platforms. Of the 1,799 domains, 233 are linked to crypto‑asset activities, reflecting the regulator’s expanded remit under the European Union’s Markets in Crypto‑Assets Regulation (MiCAR) and Italy’s implementing legislation.
CONSOB’s strategy centres on shutting down domestic access to suspected scam platforms before they can attract further deposits. By instructing Italian ISPs to block these sites, the regulator can effectively keep investors from reaching the platforms, although the technical implementation can take several days. The authority to block sites was granted to CONSOB through the 2019 Growth Decree, later extended to cover digital‑asset services.
The pace of enforcement has accelerated in 2026. At the beginning of March, CONSOB had blocked 1,599 websites; by mid‑July the number had risen to 1,769, and the latest order brings the total to 1,799. New orders are issued almost weekly, typically covering between six and 24 websites at a time. Earlier in July, the regulator blocked four sites offering unauthorized investment services and two platforms providing crypto‑asset services without approval.
Scammers frequently shift between product categories, advertising foreign‑exchange trading, crypto investments, and automated investment tools through the same website. A polished interface, a European‑sounding company name, or a sophisticated trading dashboard does not prove that a platform is licensed. Investors are advised to verify authorisation through the official regulatory register before opening an account or transferring funds.
CONSOB has noted that fraudulent investment promotions are becoming harder to spot as operators combine established scam techniques with artificial‑intelligence–generated material. Some platforms use cloned websites and client portals that resemble regulated brokers, banks, or investment firms. Others operate through several domains, allowing them to redirect potential victims when one address is reported or blocked.
The regulator has highlighted the use of AI‑generated images, cloned voices, and fabricated videos featuring politicians, celebrities, and well‑known financial figures. Such material can appear in online advertisements or direct messages, encouraging consumers to open accounts, follow supposed trading advice, or deposit funds with an unlicensed platform.
While blocking orders reduce the number of Italian users reaching a suspected scam through its main domain, they do not remove the operator from the internet or recover money already transferred. Fraudulent businesses can register replacement domains, change names, or use social‑media and messaging applications to continue contacting potential victims. Multiple domains and mirror websites have therefore become common features of online investment operations.
Implementation is not immediate. Italian ISPs generally need several days to apply a new restriction across their networks, leaving some websites temporarily accessible after CONSOB publishes an order.
Despite these limitations, the rapid increase in blocked domains shows that regulators are prioritising pre‑emptive disruption. The addition of MiCAR powers gives CONSOB a clearer route to act against crypto businesses serving Italian customers without authorisation.
The blacklist’s approach toward 1,800 domains points to a persistent enforcement problem rather than a temporary wave of misconduct. For consumers, checking a regulator’s register, avoiding unsolicited investment offers, and refusing to transfer funds based on social‑media promotions remain the most practical defenses.
The current situation underscores the ongoing challenge of policing online investment platforms that blend traditional financial fraud with digital‑asset schemes. While the regulator’s actions curb immediate access, the broader issue of platform migration and the use of sophisticated AI‑driven deception continues to evolve.
In the coming months, CONSOB is expected to maintain its weekly blocking cadence as it monitors new domains and responds to emerging fraud tactics. The regulator’s continued focus on enforcement, combined with the regulatory framework established by MiCAR, aims to protect Italian retail investors from unauthorised investment services and crypto‑asset scams.
