About
The Washington State Department of Financial Institutions (DFI), Securities Division received a complaint from a Washington resident regarding a purported cryptocurrency trading platform named UB-Pro.
After meeting an individual online, the Washington resident was directed to the website for UB Pro, which describes itself as a cryptocurrency trading platform. The Washington resident made multiple investments. The resident was told that a firm named KV International would be launching a stable coin named KVUSDT. The investor was instructed to wire funds to a bank account in the name of Ecoplanetpro Group Ltd in Hong Kong.
After conducting trades, the investor saw his account dramatically increase in value in a short time period to over $7 million. When the investor tried to withdraw his profits, the firm refused to process his request unless he deposited additional funds, falsely claiming that this was a requirement mandated by the Federal Reserve’s International Finance Division.
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.