The City of West Hollywood is launching an effort to help educate community members on how to protect themselves from cryptocurrency fraud and scams. Cryptocurrency is digital currency purchased through an app on a phone, a website, or at a cryptocurrency ATM. bitcoin and Ether They are some of the best-known cryptocurrencies, but there are many others. Scammers may use cryptocurrencies because they do not have the same legal protections as credit or debit cards and payments generally cannot be reversed.
Here are some tips to avoid cryptocurrency scams:
- Only scammers demand payment in cryptocurrency. No legitimate company or government agency will demand any type of cryptocurrency payment; it is a scam.
- Never pay a fee to get a job.. If someone asks for an advance payment to get a job with cryptocurrency or any other type of payment; it is a scam.
- Never mix cryptocurrency and online dating. If a potential online date asks for cryptocurrency or wants to "help" invest in cryptocurrency; it is a scam.
- Research companies and organizations before investing or sending money. to avoid being a victim of an illegitimate company or website. When companies or websites (fake or not) have names that look or sound similar to well-known organizations, the potential confusion created for consumers is real. Attempting to take advantage of such confusion is a tactic employed by bad actors seeking to take advantage of unsuspecting consumers.
The State of California Department of Financial Protection and Innovation (DFPI) has announced the launch of a Crypto Scam Tracker to help Californians detect and avoid crypto scams. The tracker details apparent crypto scams identified through a review of complaints filed by the public and allows California consumers and investors to do their own research and prevent harm to themselves and others. The site features a database that can be searched by company name, scam type, or keywords to learn more about cryptocurrency-specific complaints the DFPI has received. An accompanying glossary is intended to help consumers better understand common scams. As reports of new crypto scams emerge, the DFPI will continually update this tracker to quickly alert and protect the public.
For community members who believe they have been a victim of a scam or fraud, or who become aware of a scam that is not currently listed on Scam Tracker, please notify DFPI immediately by file a complaint with the DFPI online at https://dfpi.ca.gov/submit-a-complaint or by calling toll-free: (866) 275-2677.
For more information, contact Anita Shandi, Public Safety Manager for the City of West Hollywood at (323) 848-6446 or ashandi@weho.org. For people who are deaf or hard of hearing, call TTY (323) 848-6496.
For up-to-date information on West Hollywood city news and events, follow @wehocity on social mediaenroll in news update in www.weho.org/emailand visit the city calendar of meetings and events in www.weho.org/calendar. West Hollywood City Hall is open for walk-in services at public counters or by appointment by visiting www.weho.org/appointments. City Hall services can be accessed by phone at (323) 848-6400 and through the website at www.weho.org. Receive text message updates by texting โWeHoโ to (323) 848-5000.
For reporters and members of the media seeking additional information about the City of West Hollywood, please contact City of West Hollywood Public Information Officer Sheri A. Lunn at (323) 848-6391 or slunn@weho.org.
