Alert number: CA056896_11/23
The Washington State Department of Financial Institutions (DFI) has received a complaint from a Washington State consumer against C-Wallet, CWallet, or C Wallet. The consumer reported that their cryptocurrency account with the company was shut down without proper notice or opportunity to withdraw funds.
C-Wallet and any variation thereof are not licensed to offer any sort of consumer loan in Washington State by the Department, by WA State Department of Licensing, by WA State Department of Revenue, or by the WA State Secretary of State.
It appears that C-Wallet operates a website at [https://cwallet.com] and lists its contact information as:
UNIT 321B. Bld. 1W
HONG KONG SCIENCE PARK
[business@cwallet.com]
DFI warns Washington consumers that before doing business with a financial service provider the consumer should:
Make sure that the entity is licensed. Consumers can use the “Verify a License” feature on DFI’s website to check whether a payday or consumer loan company is licensed to conduct business in the state of Washington.
Not provide any personal information, such as social security number or bank account number or access if the company is not licensed or authorized to conduct business.
Report Unlicensed Lending Activity or Fraud
Washington State residents only: If you suspect unlicensed activity by a payday lender or consumer loan company, please contact the Department at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov. Even if your activity involves a loan over the internet, a license may still be required.
If you live in another state, go to this webpage to find the regulator in your home state.