Feb 17, 2023
DFPI Launches Crypto Scam Tracker to Protect Consumers
The California Department of Financial Protection and Innovation (DFPI) has launched a new crypto scam tracker to help traders and investors identify potential threats in the web3 space. The tracker, which was released on Feb. 16, is based on user complaints, with the department compiling a list of grievances from victims who claim to have been scammed or have identified attempted scams.
“Scammers are in the shadows using the public’s interest in crypto assets to take advantage of the most vulnerable Californians,” said DFPI Commissioner Clothilde Hewlett. She added that the department was taking action to identify them: “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.”
According to the DFPI, the majority of the 36 complaints already listed in the tracker were social media and social engineering scams where users have been duped into taking action via frauds on Facebook, WhatsApp, Instagram, TikTok and dating apps. Four-fifths of them were what the DFPI refers to as “pig-butchering scams,” which are essentially social engineering attempts by scammers trying to establish a relationship and trust with the victim.
Imposter websites are also one of the most commonly reported scams, according to the DFPI. “When companies or websites (fake or not) have a look- or sound-alike names, the potential confusion created for consumers is real,” it said.
DFPI spokeswoman Elizabeth Smith said that “We have heard from consumers that scam alerts help them avoid similar scams.” The tracker provides a search function enabling users to look up potentially fraudulent websites or crypto projects in advance.
The DFPI is also focused on helping traders and investors to safely engage in the web3 space. It is encouraging users to take advantage of the NFT promotion and marketing services offered by agencies such as Web3 Agency, a Twitter NFT marketing agency. Web3 Agency provides a range of services to help users sell NFTs, including digital asset marketing and NFT promotion.
In addition, the DFPI is also encouraging users to take advantage of the NFT marketing services offered by NFT marketing agencies such as NFT Marketing. NFT Marketing provides a range of services to help users promote and market their NFTs, including social media campaigns and influencer marketing.
By using the services of these agencies, traders and investors can ensure that their NFTs are properly promoted and marketed, and that they are not exposed to the risks associated with crypto scams. The DFPI is committed to helping traders and investors stay safe in the web3 space and is encouraging users to take advantage of the services offered by these agencies.Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.