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DFPI Issues Numerous Detailed Warnings Of Possible Cryptocurrency Broker Frauds

DFPI Issues Numerous Detailed Warnings Of Possible Cryptocurrency Broker Frauds
Wednesday, January 4, 2023

Shortly after Christmas, the California Department of Financial Protection & Innovation began issuing consumer alerts with respect to possible cryptocurrency broker frauds.  These alerts generally involved alleged "Advance Fee", "Social Media" and/or "Romance" scams.  Information regarding these scam techniques is available here:

These alerts are sobering reading.  The alerts describe investors mortgaging their homes and borrowing money from relatives in the vain attempt to recover their funds.

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