California regulator issues barrage of crypto scam warnings

Quick Take

  • The Californian financial regulator released 16 alerts for suspected crypto websites and fraudsters over Dec. 27 and 28.

California’s financial regulator released a barrage of 16 crypto scam alerts between Dec. 27 and 28, warning consumers of potentially fraudulent crypto websites and brokers. 

The California Department of Financial Protection and Innovation rarely releases more than one warning at a time, but seems to have made an exception for crypto. Its previous crypto scam alert bombardment took place on Jun. 15, when 26 notices were pushed out. 

From romantic swindling schemes to advance fee scams, victims totted up to losses of up to $1.2 million, the regulator said. Many fell into the trap following friendly social media messages that built a relationship between the victim and the scammer.


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Some of the sites attempted to dupe well-known entities, with names such as “,” “UniSwap LLC” and “RB Hood.”

“The DFPI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services,” the regulator wrote.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Inbar is a reporter covering crypto policy and regulation with a focus on Europe. Before The Block, she worked with several publications in Brussels including The Parliament Magazine and Are We Europe. Inbar holds a bachelor's degree in international relations from University College Utrecht and a master's degree in international politics from KU Leuven.


To contact the editor of this story:
Lucy Harley-McKeown at
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