Alleged AI Trading Platform FireX21 Appears to Be Engaged in Fraud

Several investors have seen advertisements on various social media sites to perform beta testing for FireX21’s crypto trading program.  Investors are often given approximately $600 to test the investment platform and are instructed via application communications to make trades on FireX21’s app. The $600 is only available in FireX21’s application and cannot be withdrawn off the application. Following several weeks of trades that purport to generate significant profits, FireX21 requests that investors give them $600, and offers investors the opportunity to put additional funds into the application. FireX21 appears to be associated with other identified fraudulent investment schemes TelPyx and Hesse Capital.

How to Report

If you believe you are a victim of this alleged cryptocurrency scam:

• Report to FBI
• If you are outside Washington State: contact your local Securities Regulator
• If you are a Washington State resident: Submit a Complaint for statistical purposes. 

Other Resources

• Virtual Currency, Cryptocurrency, and Digital Assets Information for Consumers
• Investment Fraud
• What You Can Do to Avoid Investment Fraud | Investor.gov