The California Department of Financial Protection and Innovation (DFPI) has launched a cryptocurrency fraud tracker to help residents “detect and avoid crypto fraud.” The regulator states that ” As new crypto scam reports emerge, DFPI will continually update this tracker and promptly alert and protect the public.”
California Regulators’ Crypto Fraud Tracker
The California Department of Financial Protection and Innovation (DFPI) announced last week that it is launching theCrypto Scam Trackerto help people in the state “detect and avoid crypto scams. “The Crypto Scam Tracker It is intended to help Financial regulators explained.
The tracker details apparent crypto scams identified through review of complaints filed by the public, allowing California consumers and investors to investigate on their own and prevent harm to themselves and others.
The California Regulatory Crypto Scam Tracker is a searchable database by company name, scam type, and keyword that allows consumers to learn more about crypto-specific complaints received by DFPI DFPI receives thousands of consumer and investor complaints each year. received, and the contents of this tracker are based on information reported to the DFPI by the public. The regulator has stated that it “does not verify losses reported by complainants.”
There is also an accompanyingglossary“intended to help consumers better understand common scams,” the state regulator continued.” As new crypto scam reports emerge, DFPI will continually update this tracker and promptly issue warnings to protect the public.”
DFPI Commissioner Clothilde Hewlett commented, ” Fraudsters are working in the shadows to take advantage of the public’s interest in crypto assets in order to take advantage of the most vulnerable Californians.” The commissioner added,
Through the new crypto fraud tracker, combined with rigorous enforcement efforts, DFPI is committed to shining a light on these ruthless predators and protecting consumers and investors.
There are already several well-known crypto scam trackers that help investors avoid crypto-related scams, including Bitcoin Abuse and ; Scam Alert, which helps investors avoid crypto-related scams, such as the “Scam Alert”and “Scam Alert”, which helps investors avoid crypto-related scams. Last week, blockchain data analytics firm Chainalysis released a report showing that crypto fraud revenuehas decreased by 46%in 2022. 46% decrease in 2022, to $5.9 billion from $10.9 billion the previous year.
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