California shut down 26 cryptocurrency fraud websites last year

According to Decrypt, the California Department of Financial Protection and Innovation (DFPI) has shut down 26 fraudulent cryptocurrency websites in 2024, resulting in consumer losses exceeding $4.6 million in 2024. DFPI has processed over 2600 complaints through its' Crypto Fraud Tracker ', exposing seven new types of fraud including fake Bitcoin mining, cryptocurrency job fraud, and crypto game fraud, as well as misleading artificial intelligence investment plans. At the same time, the California Department of Justice (DOJ) announced that it has shut down 42 websites operated by international fraudsters, discovering losses of $6.5 million due to promises of high returns.