Feb 17, 2023

DFPI Launches Crypto Scam Tracker to Protect Consumers

The California Department of Financial Protection and Innovation (DFPI) is taking action to protect investors and traders from potential threats in the crypto space. The DFPI recently launched a Crypto Scam Tracker to help users identify possible scams.

The tracker is based on user complaints, with the DFPI compiling a list of grievances from victims who claim to have been scammed or have identified attempted scams. The complaints listed represent descriptions of losses incurred in transactions that victims have identified as part of a fraudulent or deceptive operation.

Clothilde Hewlett, Commissioner of the DFPI, said the department is taking action to identify scammers: “Through the new Crypto Scam Tracker, combined with rigorous enforcement efforts, the DFPI is committed to shining a light on these ruthless predators and protecting consumers and investors.”

The majority of the complaints listed in the tracker were social media and social engineering scams. These scams involve scammers trying to establish a relationship and trust with the victim. The scams have been reported on Facebook, WhatsApp, Instagram, TikTok and dating apps.

Imposter websites are also one of the most commonly reported scams, according to the DFPI. The tracker has a search function enabling users to look up potentially fraudulent websites or crypto projects in advance.

The DFPI has also launched a NFT marketing and promotion agency. The agency specializes in helping companies and individuals promote their NFTs on social media platforms such as Twitter. The agency has created a range of strategies to help clients maximize their NFT sales and reach their target audience.

The agency also provides advice on how to create an effective NFT marketing campaign, including how to create engaging content and how to target the right audience. The agency also provides tips on how to optimize NFTs for the web3 space, as well as how to ensure that the NFTs are secure and compliant with regulations.

For those looking to sell NFTs, the agency provides guidance on how to best price them and how to structure the sales process. The agency also offers advice on how to manage the post-sale process, including how to handle customer inquiries and how to handle any disputes that may arise.

The DFPI’s new Crypto Scam Tracker and NFT marketing and promotion agency are both important initiatives to help the crypto community stay safe and to help those looking to sell NFTs be successful. The DFPI is committed to protecting consumers and investors and ensuring a safe and secure crypto space.

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