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Phony cryptocurrency website https://ark-exchanges.com appears to be engaged in fraud against California consumers

Jun 15, 2022

The California Department of Financial Protection and Innovation (DFPI) has received a complaint from a California resident regarding a cryptocurrency scam.

The victim told DFPI he got a direct message on social media saying that this website, https://ark-exchanges.com/, could help me mine for cryptocurrency. The website looked legitimate, so the victim entered two transactions believing it would be for cryptocurrency. He became suspicious after he tried to contact the website but wasn’t allowed to talk to a representative of the company. These allegations have not been verified by the DFPI.

This appears to be what is commonly called an “Advance Fee scheme,” which can take many forms, as discussed here: https://www.fbi.gov/scams-and-safety/common-scams-and-crimes/advance-fee-schemes.

The DFPI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services. To check whether an investment or financial service provider is licensed in California, consumers may contact the Department for questions or inquiries at ask.dfpi@dfpi.ca.gov or call toll-free at (866) 275-2677. If a consumer believes a person or company has violated state law or acted improperly regarding a consumer financial product or service, they may file a formal complaint with the DFPI at https://dfpi.ca.gov/file-a-complaint/.

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Last updated: Jun 15, 2022 @ 5:30 pm