Digital Finance Academy – Investment Agreement (Fraudulent Platform)

Website

http://h5.peabdexapp.vip

Scam Type

Signal Selling Scam

Fraudulent Trading Platform

Description

A California resident reports about the experience with the so-called investment education platform, “Digital Finance Academy” which offered access to a “Trader Incubation Program” called the “Stable Trading System 6.0 investment system”. To participate in the program, the resident paid $50,000 in crypto assets, believing they could net 300% through the issuance of a crypto asset Academy Token (“STS”). Digital Finance Academy claimed that once they had sold enough tokens to reach their target the resident would get their returns, though would have to pay 30% to the academy for various subscription/service-related fees. But after participating in the program, the platform demanded $54,000 for “commissions” before allowing any withdrawals. The resident has not been able to recover their funds and the investment program is no longer operational.

The DFPI cautions consumers to be wary of entities purporting to be investment education platforms offering access to proprietary investment programs or technologies to solicit investment in crypto. These entities may promise unusually high returns in vague investment opportunities that appear to be sophisticated or complex (e.g. algorithmic trading systems, AI-driven strategies, etc.) and may even have consumers sign into an investment contract to appear legitimate.