As an investment, crypto is typically highly risky, and lacks the protections associated with other financial assets such as deposit insurance and the right to error resolution. While there can be some security built into a blockchain system (For example, every computer in the network maintains a complete, anonymous record of every transaction), consumers should be aware of the risks and potential for fraud.
Our Oversight
How to report crypto scams
If you’ve experienced unfair, deceptive, or abusive practices related to crypto, submit a complaint with us today.
Before you put your money at risk, check our Crypto Scam Tracker – a first-of-its-kind searchable collection of scam complaints sorted by company name, scam type, or keywords, as well as a glossary explaining the structures for common scams.
How will my complaint be handled?
If we think an issue can be resolved by reaching out to a financial service provider, we’ll work to get a resolution on your behalf. If the complaint involves activity that we think may be illegal, we’ll send your complaint to our enforcement division who will review and take appropriate next steps, which may involve reaching out to other state and federal agencies or regulatory organizations. While we work to carefully review every complaint, we cannot guarantee that we will be able to resolve your issue.
Featured Resources
Crypto: What You Should Know Right Now
In addition to protecting consumers from harm, the DFPI is committed to being a resource for accurate information for consumers and investors on financial topics.
Crypto Scam Tracker
The scams in this tracker are based on consumer complaints. They represent descriptions of losses incurred in transactions that complainants have identified as part of a fraudulent or deceptive operation.
Investment Scams – What Consumers Need to Know
This page is devoted to helping you protect yourself from investment cheats, with ways to help you avoid fraud, and find investment opportunities that offer real promise.
Useful Terms
Blockchain
The blockchain is a digital ledger, which securely and transparently records transactions across the network. Every set of transactions forms a block, and each block is connected to previous (and future) blocks. Thus, “blockchain.”
Wallet
Cryptocurrency owners can store digital financial assets in a digital tool called a wallet. Software wallets typically are most common, although they can also be hardware-based.
Mining
Crypto transactions are verified and added to a blockchain in a data-intensive process called mining. Crypto “miners” use powerful computers to solve complex mathematical puzzles, and in return, they are rewarded with newly created cryptocurrency and transaction fees. Other methods of verification include consensus mechanisms and proof of stake.
Bitcoin
Bitcoin was the first and remains the most well-known cryptocurrency. Bitcoin works on a decentralized peer-to-peer network, and operates without need for banks, trading platforms or other intermediaries.
Other Useful Links
Trends in Consumer Crypto Complaints: The DFPI’s Consumer Services Office (CSO) helps thousands of consumers each year to navigate the consumer complaint resolution process with the various financial institutions, companies, and products that DFPI regulates.
Protect Your Heart and Your Wallet from Romance Scams: Never send money or give personal information to anyone you have only communicated with online or by phone.
Investor Information: We have gathered together links to important resources to help you investigate before investing your hard-earned money.
Other Recent Consumer Alerts and Insights
Consumer Insights
Pig butchering – how to spot and report the scam
Pig butchering is an investment scam where fraudsters gain the trust of victims over time and then deceive them into investing in fake cryptocurrency or another fraudulent investment opportunity. The term refers to the agricultural practice of fattening pigs before slaughter, symbolizing how scammers "fatten" their victims with false attention before exploiting them financially.
Consumer Insights
Pig butchering - how to spot and report the scam
Apr 15, 2025
Pig butchering is an investment scam where fraudsters gain the trust of victims over time and then deceive them into investing in fake cryptocurrency or another fraudulent investment opportunity. The term refers to the agricultural practice of fattening pigs before slaughter, symbolizing how scammers "fatten" their victims with false attention before exploiting them financially.
Alerts
Advisory to Small Businesses: Speak Up About Merchant Cash Advances
Apr 14, 2025
The DFPI wants to hear from small businesses that may have fallen prey to unfair, deceptive, or abusive practices in connection with a financial product known as a merchant cash advance (MCA).
Alerts
Advisory to Small Businesses: Speak Up About Merchant Cash Advances
Apr 14, 2025
The DFPI wants to hear from small businesses that may have fallen prey to unfair, deceptive, or abusive practices in connection with a financial product known as a merchant cash advance (MCA).
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