Consumer Alerts 2022

Cryptocurrency broker VoyanX.com appears to be engaged in fraud against California consumers

Dec 27, 2022

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

Cryptocurrency broker ZC Exchange appears to be engaged in fraud against California consumers

Dec 27, 2022

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

DFPI Learns That Moo Loans LLC Is Collecting on Voided Loans

Dec 7, 2022

The Department of Financial Protection and Innovation (Department) has received information that Moo Loans LLC, a former licensee under the California Financing Law (CFL), is continuing to collect on loans that have been declared void.

DFPI Announces Investigation Into Crypto Lending Company MyConstant

Dec 5, 2022

The Department of Financial Protection and Innovation (DFPI) is investigating crypto-related lending company CONST LLC (doing business as “MyConstant”), which is not licensed to operate in California by DFPI.

Investigation Into Apparent Failure Crypto Asset Platform FTX

Nov 10, 2022

The Department of Financial Protection and Innovation (DFPI) is investigating the apparent failure of crypto asset platform FTX.

Sanjeev Kumar is Fraudulently Posing as a California-licensed Loan Officer

Sep 16, 2022

The California Department of Financial Protection and Innovation (DFPI) has received information that Sanjeev Kumar is fraudulently marketing himself through social media as a Senior Loan Officer under NMLS# 314126.

Scammer allegedly posing as Coinbase anti-fraud employee

Sep 7, 2022

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

Cryptocurrency website https://esc-spectrum.com/ and Escrow Spectrum, Inc. are not licensed escrow agents in California

Aug 26, 2022

The DFPI received a complaint from a foreign national that Escrow Spectrum, Inc., through its website https://esc-spectrum.com/ handled cryptocurrency escrow transactions, resulting in a $150,000 loss.

DFPI initiates revocation of Celsius Lending LLC’s CFL Lending License

Aug 24, 2022

On August 19, 2022, the DFPI issued a notice to Celsius Lending LLC that the DFPI intends to revoke its California Financing Law lender’s license and has immediately suspended its license pending resolution of the revocation action.

High Yield Investment Programs (HYIPs) – Don’t Get Scammed

Aug 18, 2022

High Yield Investment Programs (HYIPs) are Ponzi schemes that promise passive income and high returns in short periods of time. HYIPs often involve crypto and rely on investors to recruit more investors. These schemes appear as if they’re operating as legitimate investments for a while, but beware! It’s only a matter of time until they collapse and disappear with your money!