Over the course of two days, the <a href="https://www.cryptoknowmics.com/news/californian-financial-regulator-dfpi-revokes-blockfis-lending-license">California Department of Financial Protection and Innovation (DFPI)</a> has <a href="https://dfpi.ca.gov/consumer-alerts/" target="_blank" rel="nofollow noopener">issued</a> 17 different advisories to fake crypto websites and dealers it believes to be operating illegaly.

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 just a handful of the companies on the list. Additionally, two clone websites called eth-<a href="https://www.cryptoknowmics.com/news/wintermute-hacked-for-160-million-otc-services-unaffected">Wintermute</a>.net and <a href="https://www.cryptoknowmics.com/news/uniswap-community-users-vote-in-favor-of-new-governance-process">UniSwap</a> LLC are impersonating two well-known names in the cryptocurrency industry.
<h2>Businesses Involved in Fake Crypto Websites</h2>
These businesses appear to be involved in fraud against <a href="https://www.cryptoknowmics.com/news/california-authorities-urge-myconstant-to-stop-offering-crypto-loans">California</a> customers, according to 17 warnings placed on the DFPI's consumer warning page throughout the course of December 27 and December 28.

The DFPI seldom posts so many notifications at once, indicating that the number of complaints of <a href="https://www.cryptoknowmics.com/news/senators-ask-meta-about-combating-crypto-frauds-on-social-media-sites">cryptocurrency scams</a> may have increased in the last months of the year. The DFPI frequently publishes alerts concerning company inspections or notices about specific events.
<h2>The Criteria of the Crypto Scam</h2>
On June 15, the DFPI issued a warning over 26 suspect cryptocurrency sites, which was the last time it issued such a sizable batch of cryptocurrency scam alerts.

The DFPI said that the people have claimed having lost anything from $2,000 to upwards of $1.2 million in some situations. The warnings were issued in response to allegations from residents against the brokers and websites. However, the DFPI merely goes so far as to claim that these websites "would seem to be involved in fraud." The majority of these alerts claim that pig-slaughtering frauds, in which a person or group creates a false online persona to forge ties or connections on social media, messaging services, and dating applications, are a common occurrence.

California Regulator Alerts of 17 Allegedly Fake Crypto Websites

The California Department of Financial Protection and Innovation (DFPI) has issued cautions to 17 fake crypto websites and dealers that are illegal.

Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

California Regulator Alerts of 17 Allegedly Fake Crypto Websites

Top Picks