The Washington State Department of Financial Institutions (DFI), Securities Division has received multiple complaints regarding the entity ITP Corporation aka Intelligent Technology Pioneer Company/ ITP Club/ ITP Tron (“ITP”) associated with the websites https://www.itp.club, https://newitp.club, https://itp.pics/pc.html, https://itp.lat, and https://www.itplb.com. The complainants purchased cryptocurrency with the promise of being able to trade or sell that cryptocurrency with guaranteed profits. Investors were not able to withdraw their funds. Some investors were also asked to pay an additional $100 “ransom fee” to access their funds.
The ITP websites claim that “ITP…aims to provide global cryptocurrency investors with the most scientific and intelligent financial management methods, as well as professional and secure digital asset trading and management services.”
ITP is a limited liability company registered in Washington with purported principal places of business located in Seattle and Olympia, Washington. However, it does not appear that ITP is located at either of these locations nor engaged in lawful business activities. DFI has reason to believe that ITP is connected with Coscoin, DCPTG, and Alevius, all of which are purported investment trading platforms registered with the Washington State Secretary of State. It does not appear that Coscoin, DCPTG, and Alevius’s businesses are actually located at any of the locations they list on the Washington State Secretary of State’s filings, nor that they are engaged in lawful business activities. ITP, Coscoin, DCPTG and Alevius are not registered with DFI to offer nor sell securities, nor as a money transmitter. DFI has previously posted an investor alert regarding Coscoin. Since posting the Coscoin investor alert, DFI has been contacted by 23 additional investors who were not able to withdraw their investments from Coscoin. Coscoin continues to offer investments in AI driven crypto trades to the general public through its websites https://www.coscoins.com, https://cosetek.com, and https://coshman.com.
These claims and allegations cannot be verified by DFI.
DFI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services, or using an unregistered, or unverified, cryptocurrency trading platform. Investment professionals need to be licensed with DFI to offer investments to Washington residents, and cryptocurrency trading platforms need to be registered with DFI as money transmitters when providing services in Washington. 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. To check the money transmitter licensing status of a cryptocurrency trading platform, please visit DFI’s License Check or contact the Department of Financial Institutions, Consumer Services Division at 1 (877) 746-4334. 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