Munzir HakimiTable of Contents
New Scam Alerts
The California Department of Financial Protection and Innovation (DFPI) has reported a surge in new types of crypto and AI scams in 2024.With over 2,600 complaints filed, the DFPI identified seven novel scams that have emerged, highlighting the evolving landscape of fraud targeting consumers.
types of Scams Identified
- Fake Bitcoin Mining: Fraudsters lure victims with false investment opportunities in mining operations.
- Crypto Gaming Schemes: Users deposit funds only to find their wallets drained.
- Job Scams: Fake job offers require victims to transfer cryptocurrency or share private details.
Additionally, there are reports of theft thru fake airdrops and high-return AI investment schemes.The rise in crimeware-as-a-service (CaaS) is also concerning as it enables less experienced criminals to access sophisticated hacking tools.
Regulatory Actions Taken
In response to these threats, the DFPI has taken notable steps:
- Shut down over 26 fraudulent websites.
- Uncovered $4.6 million in user losses from scams.
The California Department of Justice (DOJ) also dismantled 42 scam websites that collectively stole $6.5 million from victims. Common characteristics among these sites included promises of high returns and lack of legitimate contact information.
Caution Advised for Consumers
DFPI Commissioner KC Mohseni emphasizes the importance of verifying website domains before engaging with unknown platforms. Consumers should remain vigilant against potential crypto recovery scams as well.
Final Thoughts
Stay Informed Always
