California regulator has launched a new crypto scam tracker

Co quan quan ly California da ra mat mot cong cu theo doi lua dao

To assist traders and investors in identifying potential dangers to the industry, the California Department of Financial Protection and Innovation has introduced a new cryptocurrency fraud tracker.

On February 16, zDFPI made the tracker public. It is based on user complaints, with the agency maintaining a record of grievances on cryptocurrency from victims who allege to have been duped or have discovered attempted dupes.

The mentioned complaints are accounts of losses incurred in transactions that victims have identified as being a part of a dishonest or fraudulent scheme. The DFPI acknowledged that it has not independently validated any of the listed scams, but added that it nonetheless receives thousands of investor and consumer complaints annually.

Using the public’s interest in cryptocurrency assets, scammers are operating covertly and preying on Californians who are most at risk, according to DFPI Commissioner Clothilde Hewlett. She continued by saying that the department was taking steps to find them:

The DFPI is dedicated to exposing these unscrupulous predators and defending investors and consumers through the new Crypto Scam Tracker and strict enforcement actions.

The 36 complaints that have already been added to the tracker were mostly social media and social engineering schemes, in which users were tricked into acting by means of fraud on Facebook, WhatsApp, Instagram, TikTok, and dating apps.

The DFPI refers to four out of five of them as “pig-butchering scams,” which are simply attempts by con artists to build a rapport and gain confidence with the victim.

We have heard from consumers that scam notifications assist them avoid similar scams,” DFPI spokeswoman Elizabeth Smith said.

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