Scam Alert Against Crypto Brokers

The Bit Journal Editor
By The Bit Journal Editor 1 comment
4 Min Read

Scam alert against crypto brokers. The California regulator has issued 17 notices in the past two days against sellers on potentially deceptive websites. According to the CertiK report, 84% of videos on YouTube about bots are mostly scams. The California Department of Financial Protection and Innovation (DFPI) has issued 17 notices in the past two days against potential fraudulent website sellers.

Tahoe Digital Exchange, TeleTrade Options, Tony Alin Trading Firm, Hekamenltd/Tosal Markets Limited, Trade 1960, Yong Ying Global Investment Company Limited, Unison FX, VoyanX.com and ZC Exchange are among the crypto platforms warned by the California regulator. investors from. Also, eth-Wintermute.net and UniSwap LLC are two examples of trusted crypto platforms.

According to DFPI, these companies appear to be committing fraud against California consumers. It is unusual for DFPI to issue multiple warnings.

The number of reports about crypto scams seems to have increased in the last part of the year. The DFPI often issues long-term warnings about corporate investigations or notices about certain events.

The California regulator has issued 17 notices in the past two days against sellers on potentially deceptive websites. According to the CertiK report, 84% of videos on YouTube talking about bots are mostly scams.
The California Department of Financial Protection and Innovation (DFPI) has issued 17 notices in the past two days against potential fraudulent website sellers.

Tahoe Digital Exchange, TeleTrade Options, Tony Alin Trading Firm, Hekamenltd/Tosal Markets Limited, Trade 1960, Yong Ying Global Investment Company Limited, Unison FX, VoyanX.com and ZC Exchange are among the crypto platforms warned by the California regulator. investors from. Also, eth-Wintermute.net and UniSwap LLC are two examples of trusted crypto platforms.

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According to DFPI, these companies appear to be committing fraud against California consumers. It is unusual for DFPI to issue multiple warnings. The number of reports about crypto scams seems to have increased in the last part of the year. The DFPI often issues long-term warnings about corporate investigations or notices about certain events.

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Crypto Scams are Widespread

The warning was issued in response to citizen complaints against crypto sellers and buyers, and the DFPI says that complainants have reported losses ranging from $2,000 to $1.2 in some cases. DFPI, on the other hand, continues to say that these sites appear to be scams. Most of these complaints involved butchering or love affairs. In this type of scam, a person or group creates a fake identity online to establish a fake relationship or friendship through social media, messaging and dating apps.

The scammer usually spends weeks or months to establish such a fake relationship to gain the trust of the person before slowly changing the conversation to investing and luring them to invest in these fraudulent schemes.

The victim invests in cryptocurrency through the form of a legitimate website or by transferring money to a fake wallet address. Finally, the scammer removes all forms of communication.

Blockchain security company CertiK reported earlier this month that 84% of videos on YouTube talking about the top bots are scams, with that number increasing 500% from 28 videos in 2021 to 168 videos in 2022. “DFPI urges consumers to exercise caution before responding to any solicitation of investment or financial services providers. To verify whether an investment advisor or service provider funds are licensed in California” said DFPI.

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