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Cryptocurrency broker RB Hood appears to be engaged in fraud against California consumers

Dec 28, 2022

The California Department of Financial Protection and Innovation (DFPI) has received a complaint from at least one California resident regarding a crypto investment.

The victim met a woman calling herself “Jiang Yingying” on social media and they communicated on WhatsApp, Telegram, and through text messaging. At some point, Jiang convinced him to open a crypto account, so he transferred $500 from his debit card, then transferred the cryptocurrency to a Chinese exchange at first called, but later it changed its name to, then changed again to The victim even got a loan for $13,000 which he also deposited into through his account. Jiang kept saying he was making money and should add more capital, so he got another $9,500 loan and wired it to Coinbase. At some point, the victim tried to withdraw some of the money, but Jiang told him he had to pay taxes. The victim then spoke to a customer service agent at the exchange who also told him he had to pay taxes on the money before he could withdraw it. The company operated the websites at;; and

This appears to be what is commonly called an “Advance Fee scheme,” which can take many forms, as discussed here: This also appears to be what’s known as a Romance Scam, which is described here:

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 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

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Last updated: Dec 28, 2022 @ 4:46 pm