California’s DFPI Warns Against 17 Crypto Websites

Parth DubeyVerified Author

December 29, 2022 at 03:06 UTC (1 minute ago)

  • California’s DFPI issued a public warning against 17 crypto websites, stating that these are associated with fraudulent activities.
  • Some of these are Tahoe Digital Exchange, TeleTrade Options, Tony Alin Trading Firm, Trade 1960,, and ZC Exchange.
  • California’s DFPI also warned against two websites that have copied the name of two genuine crypto firms:, and UniSwap LLC.
  • A similar warning was issued in June against 26 crypto firms and websites.

The authorities in the United States have yet to roll out a single uniform regulation for all the crypto firms to meet. Interestingly, crypto investors in the ultimate land of opportunity, California, were warned by the Department of Financial Protection and Innovation (DFPI) against 17 crypto-related websites that are suspected of being operated by fraudsters. The authorities aim to tackle the rising number of crypto scams in the US.

The warnings were issued over a span of two days, and over 17 crypto websites and platforms were mentioned in them because they are suspected of fraudulent activities. These websites include Tahoe Digital Exchange, TeleTrade Options, Tony Alin Trading Firm, Hekamenltd/Tosal Markets Limited, Trade 1960, Yong Ying Global Investment Company Limited, Unison FX,, and ZC Exchange, among others.

California’s DFPI also warned against two websites that have copied the names of two of the biggest crypto firms and are then using them to scam investors. These websites are, and UniSwap LLC. Wintermute is a leading global crypto market maker that has gained quite a reputation in the crypto space, while Uniswap (UNI) is the world’s biggest decentralized crypto exchange.

According to the DFPI’s consumer alert page, over 17 warnings have been issued against crypto sites, and the regulator stated that these “appear to be engaged in fraud against California consumers.” Additionally, it is not uncommon for DFPI to post multitude of warnings against crypto firms and websites in one go. However, the current alerts issued between December 27 and December 28 suggest that there has been a surge in crypto scams as the year comes to an end.

In June, the regulatory authority of California issued alerts for over 26 crypto firms, which attracted the attention of the entire crypto community. The warnings came when multiple crypto investors in the US complained about losing their money to such scammers. Users lost money ranging from $2,000 to as much as $1.2 million.

As reported earlier by Bitnation, DFPI disclosed in a press release on September 27 that it has issued cease-and-desist orders against 11 different crypto firms for violations of the state’s securities laws while adding that California wants to establish itself as a secure cryptocurrency and blockchain hub.

Additionally, the Governor of California, Gavin Newsom, refused to sign a bill to pave the way for the state’s licensing and regulatory framework for crypto in September. The bill would’ve required crypto firms to register with local authorities before offering their services to investors in the Western US state.

Parth Dubey

Parth Dubey Verified Author

A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.

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