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Home » CFTC Charges Crypto Exchange Debiex With Fraud and Misappropriation for Running ‘Online Romance’ Scam – The Daily Hodl

CFTC Charges Crypto Exchange Debiex With Fraud and Misappropriation for Running ‘Online Romance’ Scam – The Daily Hodl

CFTC Charges Crypto Exchange Debiex With Fraud and Misappropriation for Running ‘Online Romance’ Scam – The Daily Hodl

The U.S. Commodity Futures Trading Commission (CFTC) says it is taking legal action against a “bogus” crypto exchange for allegedly defrauding investors using a pig-butchering scheme.Pig butchering is a type of romance scam that involves sending targeted victims unsolicited messages on social media, dating apps or through text messages to build relationships and gain trust before introducing a purported crypto investment opportunity.In a statement, the CFTC says it filed a civil enforcement action against Debiex, claiming that the platform misappropriated funds that the victims intended for digital asset commodity trading.According to the agency’s complaint, unidentified officers and managers of Debiex cultivated… 

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