The Washington State Department of Financial Institutions (DFI), Securities Division has received a complaint from a Washington resident regarding Xtxtfp.com. The investor invested nearly $10,000 in USDT and Bitcoin on the Xtxtfp platform. It appears the website has been taken down.
After investing, the investor’s Xtxtfp account purportedly grew to over $33,000. The investor attempted several times to withdraw funds from their account, but Xtxtfp customer service required the investor deposit $4,000 to unlock their account. These allegations have not been verified by DFI.
This appears to be what is commonly called “Advance Fee Fraud”, which can take many forms.
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 formal complaint with the Securities Division.