The Washington State Department of Financial Institutions (DFI), Securities Division has received a complaint from a Washington resident regarding Ethista and Robinson Capital C4-15. Ethista.com is a purported cryptocurrency trading platform reportedly located in Lakewood, Texas. The website, Ethista.com, may still be active.
The investor learned about Ethista through a WhatsApp group with multiple investors, which the investor referred to as a crypto whale team. The investors were talked into trading small amounts of crypto on the Ethista trading platform. The investor communicated with Ethista via email addresses, service@ethista.com and customer@service.ethista.com. After trading, the investor was unable to withdraw money from the platform and was instructed to pay an additional $270,000 to unfreeze the account.
The Ethista.com website identified the trading platform as ETHC. According to the website, the company had “5 years experience of work in crypto exchange”. It also claimed to provide fast fund deposits and withdrawals. Further review revealed that the company may be registered with the Colorado Secretary of State (SOS) under the business name ETHC Capital Foundation (ETHC). ETHC registered in April 2024, purportedly as a nonprofit corporation in Lakewood, Colorado. Names and addresses provided by the company are likely fake.
These allegations have not been verified by DFI.
This appears to be what is commonly called “Advance Fee Fraud”, which can take many forms. This also appears to be a common type of cryptocurrency investment scheme that uses social media groups, such as WhatsApp groups, to solicit and/or guide investors in cryptocurrency trading.
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
Protecting Yourself from Financial Fraud
Virtual Currency, Cryptocurrency, and Digital Assets Information for Consumers