About
The Washington State Department of Financial Institutions (DFI), Securities Division, has received information that a purported cryptocurrency trading platform using the website, cryptowedn3vip.com, and operating as Cryptoweb3 Exchange, may have engaged in fraud. The website is no longer active.
The complainant reported receiving a text on Telegram from an individual who claimed to have contacted the complainant by mistake. After chatting a bit, the individual offered to connect the complainant with a professor of cryptocurrency trading, who had allegedly authored a book found on Amazon about crypto trading for profits. The individual claimed the professor was also offering a seminar, which would allow attendees access to an individual account, funded with $1,000 by the program, to observe the professor’s trading process. In order to withdraw the profits from the account, attendees were required to activate the program by investing their own funds and paying a 20 percent fee for the privilege of earning money. Upon questioning the program’s authenticity, the complainant’s access to the program was deleted and communication from its representatives stopped.
How to Report
If you believe you are a victim of this alleged 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
- Customer Advisory: Avoid Forex, Precious Metals, and Digital Asset Romance Scams | CFTC
- Protecting Yourself from Financial Fraud (wa.gov)
- Virtual Currency, Cryptocurrency, and Digital Assets Information for Consumers
- Information regarding investing strategies, investment products, and how to protect yourself from fraud
- What You Can Do to Avoid Investment Fraud
- Refund and Recovery Scams