The Californian Department of Financial Protection and Innovation (DFPI) launched a Crypto scammer tracker on behalf of complaints.
The California Department of Financial Protection and Innovation (DFPI) is a California based government agency which was launched in 2013 under the name “Department of Business Oversight (DBO)”. This agency regulates financial services, businesses, products, and professionals.
On 16 Feb 2023, The DFPI agency announced the launch of a Crypto scammer tracker index. This tracker includes many crypto-linked fraud complaints. In short, It is a list of crypto fraud complaints, the agency received over the last few years from the citizens.
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The DFPI agency confirmed that no one complaint was verified but believes it will help the crypto investors to identify the possible threats in the crypto sector easily.
Clothilde Hewlett, the commissioner at the DFPI agency, said:
“Scammers are in the shadows using the public’s interest in crypto assets to take advantage of the most vulnerable Californians…(..)… She added that the department was taking action against identifying them.”
It is worth noting that in the majority of crypto scams, victims got into scam trap via popular social platforms like Facebook, WhatsApp, Instagram, TikTok, and dating apps.
In this Crypto scam tracker, people can use a search bar to search Crypto-related websites & crypto schemes to figure out whether they are linked with a scam or not or they have any illegal history.
SEC vs Crypto
In the last 10 days of the period, it has been seen that the US securities regulatory body SEC agency showed strict action against the Crypto companies.
On 10 Feb 2023, The US SEC fined $30 million to the Kraken crypto exchange over crypto staking offerings. And a week ago, SEC sent a Wells notice to the stablecoin issuer company Paxos and claimed that BUSD stablecoin is unregistered security.
Read also: US SEC files fraud charges against Terra Labs founder Do Kwon
California’s DFPI launches crypto scam tracker
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