Alert number: CA055569_10.12.22(10.23)
DFI has received a complaint from a Washington resident regarding Linktradefx Investment (‘Linktradefx”), a purported digital asset exchange. The investor accessed the platform on https://www.linktradefx.com/home/index.php. The Linktradefx website claims to “bring profit to all our partners, so you can not worry about the safety of their funds.”
The investor was introduced to Linktradefx by an individual who contacted them directly. The investor created an account and invested several thousands of dollars during the first week. After a thirty day trading session the investor had about $474,000 in profits. When the investor attempted to withdraw their profits, Linktradefx said that the investor had to pay a $47,600 income tax withholding fee. The investor refused to pay the income tax withholding fee and the investor has not been paid any of the profits by Linktradefx. These allegations have not been verified by DFI.
This appears to be similar to what is commonly called an “Advance Fee Fraud”.
Linktradefx appears to be associated with the following contact information:
3526 Bow Dr
Copperopolis, CA 95228
DFI warns Washington consumers that when considering doing business with a financial service provider the consumer can:
Make sure that the entity is licensed. Consumers can use the Verify a License feature on DFI’s website at to check whether a payday or consumer loan company is licensed to conduct business in the state of Washington.
Never provide any personal information, such as social security number or bank account number or access if the company is not licensed or authorized to conduct business.
How to Protect Yourself
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.
Important Information for All Consumers
If you feel you have been the victim of a scam you can contact the FTC at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or the Consumer Financial Protection Bureau (CFPB) at 1-855-411-CFPB (2372) or online at www.consumerfinance.gov.
If the scammers already have your bank account information, social security number, or other personal information, you may be a victim of identity theft. You can contact your bank and the three major credit bureaus to take appropriate precautions. The FTC has information for victims of identity theft online at www.ftc.gov.
If you feel you have been the victim of a scam involving the internet you can contact the Internet Crime Complaint Center online at www.ic3.gov.
If you feel you have been the victim of a financial scam and are concerned about your personal financial information, you can contact your banking institution and the three major credit bureaus. Procedures for contacting the credit bureaus are available on the FTC’s website at www.ftc.gov.
If you live in another state, find the regulator in your home state.