About
The Securities Division of the Washington State Department of Financial Institutions has received a complaint concerning metacash.art (which has since become metacashs.one), a website that presented itself as a financial services provider.
The complainant alleged that he invested over $91,000 over the course of four months in cryptocurrency and in an AI app related to web3, a theorized iteration of the internet which is decentralized and blockchain-powered. At some later point, the complainant tried to withdraw $20,000 from his metacashs.one account, only to be told that he could not due to “upgrade[s] and maintenance.” The complainant would cancel this withdrawal request, and instead request a withdrawal of an equivalent amount of Ethereum tokens. Metacashs.one responded to this request by placing it on hold, and stating that the complainant did not have permission to open a “large channel,” and that he needed “to open a large channel permission based on 20% of [the complainant’s] personal account assets to meet the withdrawal conditions.” The complainant subsequently added over $22,000 worth of Tether coins to his metacashs.one account, and metacashs.one has stated that the complainant’s funds have been returned. However, the complainant cannot access the funds.
As of the date of this alert, the complainant cannot access over $172,000 held by metacashs.one.
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.