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Crypto Scam Entity “Bitscyber” Impersonating CA DFPI and Using Fraudulent “Ownership Certificate Of Funds” Document to Steal Money

Sep 21, 2023

The California Department of Financial Protection and Innovation (DFPI) has received information that an entity “BitsCyber”, possibly claiming to operate out of California, is offering the service of retrieving lost Cryptocurrency funds, claiming that it is the DFPI. BitsCyber has sent a fraudulent document entitled “Ownership Certificate Of Funds” to victims, claiming it is from the DFPI. BitsCyber claims the document is needed for the retrieved funds to be wired to the client/victim. The document contains DFPI’s Iconography and address, but seems to be edited heavily to reflect the scam’s language.

BitsCyber is not associated with this Department, and there exists no such “Ownership Certificate Of Funds” document. Never transfer funds without first confirming the identity of the sender.

The DFPI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services. Consumers are encouraged to check whether an investment or financial service provider is licensed in California, and can submit a complaint by visiting or calling 1-866-275-2677.

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Last updated: Sep 21, 2023 @ 4:03 pm