California officials just shut down 26 fake cryptocurrency websites tied to scams, saving victims over $4.6 million. The crackdown—led by the Department of Financial Protection and Innovation (DFPI)—uses a tool called the Crypto Scam Tracker to spot fraud using consumer reports.
DFPI Commissioner KC Mohseni warned, “Scammers are getting sneakier. Always double-check websites, avoid shady platforms, and report scams to us. Our tracker helps keep people safe.” The DFPI reviewed 2,600+ complaints, uncovering fake Bitcoin mining schemes, crypto game fraud, and fake job scams. They also found 7 new scam types showing how scammers adapt.
California Attorney General Rob Bonta added, “Scammers play mind games. Never send money to someone you haven’t met. Our team worked hard to take these sites down.” He praised the DFPI’s teamwork.
A major threat? “Pig-butchering” scams, where criminals build trust online, then push fake crypto investments. These scams helped fuel $9.9 billion in global crypto fraud losses this year.
Stay Safe:
- Verify website addresses.
- Ignore “recovery” offers promising lost funds.
- Report scams to the DFPI.
By staying alert and reporting fraud, Californians can help fight crypto scams. Learn more using the DFPI’s Crypto Scam Tracker—your shield against evolving threats.
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