About
The Washington State Department of Financial Institutions (DFI) Securities Division received a complaint from a Washington resident regarding an investment group named Hessee Capital.
The Washington resident had a friend who told him about an investment opportunity that was advertised on Instagram. The friend stated that he had made impressive gains in a couple of weeks trading on a new cryptocurrency trading platform named TelpyX. After reviewing information on Instagram, the Washington resident was contacted through WhatsApp to join an investment group run by Hessee Capital.
A representative of Hessee Capital stated that the company was going to launch a cryptocurrency futures trading system called SSV. The investor made some initial investments and was able to withdraw a small amount of profits. The Washington resident was later told that Hessee Capital was involved in Initial Exchange Offerings (IEOs) that promised 400 to 500% returns on investment within 60 days, and that there was insurance against any losses. The Washington resident made multiple investments of crypto assets and his account grew by over 500%. The Washington resident purchased a token named HSSV which was forecasted to make 20-fold returns. The Washington resident was later told that his account was frozen and that he could not withdraw his funds unless he paid additional funds for purported taxes and withdrawal fees.
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.