DFI: Crypto trading platform Ethfinance may be a scam platform, investors cannot withdraw funds after depositing

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Cointime2024/06/14 05:10

By:Cointime

The Securities Department of the Financial Institutions Division (DFI) in Washington State issued a consumer warning stating that an investor learned about a cryptocurrency trading platform called Ethfinance through a LinkedIn connection and transferred a total of $310,000 from their DeFi wallet to the platform. When the investor tried to withdraw some of the initial capital and profits, they were told they needed to add more funds to complete the "smart contract" before they could withdraw their funds.

DFI stated that the investor did not send any additional funds. The investor is unable to withdraw any funds from their account and their account has been locked. This case appears to be a "prepaid fraud case," but the allegations have not yet been confirmed. The platform has also been mentioned in previous complaints, with a California resident reporting that they encountered a stranger online who offered to teach them how to make money by trading cryptocurrency options, resulting in a loss of over $165,000.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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