Washington State Accuses 2 Crypto Platforms of Fraud

Nasdaqkk.cc and Sequoia-Platform Accused of Defrauding Buyers

Two cryptocurrency platforms, Nasdaqkk.cc and Sequoia-Platform, face severe allegations of fraud by Washington State’s Division of Monetary Establishments (DFI). These corporations are accused of luring buyers with guarantees of excessive returns however later blocking withdrawals and demanding extra charges. The platforms allegedly exploited social media and messaging apps to focus on victims, resulting in vital monetary losses for buyers.

Advance Payment Fraud Allegations Towards Nasdaqkk.cc

On October 2, 2024, the DFI’s Securities Division addressed fraud allegations towards Nasdaqkk.cc. The platform reportedly misrepresented its affiliation with the Nasdaq Inventory Alternate, which DFI confirmed is just not concerned in cryptocurrency buying and selling. An investor was approached through Fb and subsequently invested $64,000. 

When trying to withdraw funds, the investor obtained a “security reserve alert” requiring an extra 15% payment to unfreeze their account. The investor refused to pay the payment and was left unable to entry their cash. This case is recognized as a standard sort of cryptocurrency funding scheme often called ‘advance payment fraud.’

Sequoia-Platform’s Manipulative Techniques

Sequoia-Platform is one other firm accused of defrauding buyers. An investor discovered of the platform from an internet commercial, and communication was moved to a messaging utility reminiscent of WhatsApp or Telegram. The investor invested $22,000 in bitcoin and confronted a number of payment calls for however was unable to withdraw funds. 

The platform threatened the investor with a lawsuit, and legislation enforcement has since seized its area. The DFI warned shoppers to confirm the licenses of any funding professionals and urged warning when participating with unfamiliar entities.

DFI’s Warning and Investor Safety

The DFI’s actions spotlight the significance of investor vigilance. It’s essential to confirm the credentials of any funding platform and to be cautious of high-return guarantees and sudden charges. The DFI’s efforts goal to guard shoppers from fraudulent schemes and make sure the integrity of the monetary markets.

Washington State’s crackdown on these fraudulent cryptocurrency platforms serves as a reminder for buyers to conduct thorough analysis and train warning when participating in on-line investments.

Additionally Learn: CEX IO Quiz Solutions Why It Is Trending on Google

Leave a Reply

Your email address will not be published. Required fields are marked *

x