DFI received a complaint from a Washington resident regarding Coin-pro.global, an alleged cryptocurrency trading website.
The investor met a stranger online who asked if the investor was interesting in learning how to make money with cryptocurrency. The individual sent the investor daily messages for approximately one month stating how easy it is to earn money with cryptocurrency. Within two weeks of the investor’s initial investment of $2,000, the investor’s Coin-Pro.global account purportedly earned $400.
The individual asked the investor to deposit more into their account, but the investor declined. When the investor requested to withdraw funds from their Coin-Pro.global account, they were told that the request was under review. Within two weeks after the investor’s withdrawal request, the Coin-Pro.global website was no longer online. The investor lost their entire investment.
These allegations have not been verified by DFI.
DFI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services. Investment professionals need to be licensed with DFI to offer investments to Washington residents. In addition, most investment products sold need to be registered with DFI.
To check the licensing status and to find out if there are any complaints against an investment professional or investment product, please visit FINRA Brokercheck or contact the Washington State Department of Financial Institutions, Securities Division at (360) 902-8760. If you live outside of Washington State, contact your state securities regulator.
If a consumer believes a person or company has violated state law or acted improperly regarding an investment product or service, they may file a complaint with the Securities Division.
Additional Resources
Virtual Currency, Cryptocurrency, and Digital Assets Information for Consumers