Feb 18, 2023

DFPI Launches Crypto Scam Tracker to Protect Investors

The California Department of Financial Protection and Innovation (DFPI) has taken a major step to help protect traders and investors from potential threats in the crypto space. On Feb. 16, the department launched a new crypto scam tracker, which is based on user complaints.

The tracker contains a list of crypto-related grievances reported by victims who claim to have been scammed or have identified attempted scams. While the DFPI has not verified any of the scams listed, it receives thousands of consumer and investor complaints each year.

“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. “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 36 complaints listed in the tracker are social media and social engineering scams, which are attempts by scammers to establish a relationship and trust with the victim. These scams are found on Facebook, WhatsApp, Instagram, TikTok and dating apps.

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

The crypto space is an ever-evolving landscape, and new scams are constantly emerging. To help users stay informed, the DFPI is also offering NFT marketing services. This includes the promotion of NFTs on Twitter and other platforms, as well as providing a web3 agency to help users sell their NFTs.

In addition, the DFPI is working with NFT marketing agencies to create campaigns that will help users avoid falling victim to scams. These agencies are equipped with the latest strategies and techniques to help users protect their digital assets.

The DFPI is committed to helping protect traders and investors from potential threats in the crypto space. With its new scam tracker, NFT marketing services, and partnerships with NFT marketing agencies, the DFPI is taking a proactive approach to ensure users are safe and informed.

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.