Overview
The Washington State Department of Financial Institutions (DFI), Securities Division received a complaint regarding QuantumMind AI Inc. (Quantum), whose website is www.qtmpro.com. Quantum is a company claiming to offer courses designed to help investors achieve sustainable growth across various markets. Quantum’s website discusses AlphaStream, an AI-powered trading bot designed to automatically execute pre-set trading strategies and investment plans, minimizing human error. Quantum utilized a platform called Coinixiai, whose domain is https://coinixiai.com.
Coinixiai has a business registration with the State of California and obtained an MSB Registration with FinCEN. Although these registrations may be advertised by trading platforms, the information on the registrations is not verified and is not an endorsement, recommendation or certification of legitimacy.
Investor Complaint and Allegations
The investor claimed to invest approximately $600 through Quantum and Coinixiai. The investor learned about the opportunity by communicating with someone who goes by the name, Elena Roberts, an assistant to a professor, Quinlan Sutter, via WhatsApp. The investor claims that when they tried to withdraw their funds, their account was frozen.
A reverse image search of the individuals listed on www.qtmpro.com revealed several other websites that are nearly identical to Quantum. The websites include the following:
- OptiNet AI – www.onamkt.com
- Neuratech AI Solutions Inc – www.nas-community.com
- IAT Community – www.iatcommunity.com
These allegations have not been verified by DFI.
Ongoing Trend of Alleged Cryptocurrency Scams Involving Self Proclaimed “Professors” in WhatsApp Groups
This appears to be a common fraudulent scheme involving individuals claiming to be “professors” or “schools” use social media, such as WhatsApp, to guide or teach a group of investors on cryptocurrency trading strategies. The purported trading usually occurs on fraudulent trading platforms.
How To Avoid Becoming Victim of a Scam
DFI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services. Investment professionals need to be licensed with DFI to offer investments to Washington residents. In addition, most investment products sold need to be registered with DFI. To check the licensing status and to find out if there are any complaints against an investment professional or investment product, please visit FINRA Brokercheck or contact the Washington State Department of Financial Institutions, Securities Division at (360) 902-8760. If you live outside of Washington State, contact your state securities regulator.
If a consumer believes a person or company has violated state law or acted improperly regarding an investment product or service, they may file a complaint with the Securities Division.
Additional Resources
Virtual Currency, Cryptocurrency, and Digital Assets Information for Consumers