About
The Washington State Department of Financial Institutions (DFI), Securities Division, has received a complaint from a Washington resident regarding New Era Web, a purported cryptocurrency trading platform for high-net-worth investors.
The investor was introduced to New Era Web by Thuy-Trang Pham (“Pham”) who first contacted the investor on LinkedIn. Pham communicated with the investor via WhatsApp and cultivated a romantic relationship with the investor before ultimately encouraging them to invest in cryptocurrency online. Pham shared screenshots with the investor showing her purported withdrawals of over $700,000 from neweraweb.com and then walked the investor through the process of transferring their funds to neweraweb.com.
Several months after the investor’s investment, the platform showed that the investor had received a return of almost 5 times their original investment. When the investor tried to withdraw some of their investment, the platform stated their account was under suspicion for money laundering and in order to withdraw their funds, they needed to send $400,000 to the platform or all their funds would be frozen. The investor refused to provide the additional funds and lost approximately $850,000.
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: