About
The investor received an ad for an investment group on Facebook. When the ad was clicked on, it linked to an alleged investment advice group on Whatsapp. After a few months, the group chat pivoted to telling investors to invest in crypto currency via Pulse Gate LLC’s (“Pulse Coin”) app or the web address pum-exchange.com. The Pulse Coin app was eventually taken down from the Android app store and the investors were told to switch to Pluse Gate LLC’s (“Pluse Gate”) app. Both apps showed the same accounts and reflected the same investment returns. The investor invested USD Coin (“USDC”) in the Pulse Coin (and later Pluse Gate) cryptocurrency exchange, which showed him fake investment gains. The investor was unable to withdraw money from the platform and was instructed to pay additional funds to unfreeze the account.
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.