CryptoNews

Washington State Regulator Warns of Potential Fraud by BIB Crypto Platform

The Washington State Department of Financial Institutions (DFI) issued a consumer alert on Tuesday, stating that it has received a complaint regarding possible fraudulent activities by a cryptocurrency trading platform named BIB. An investor reported that after transferring 20,000 USDT to BIB following advice from individuals named Austin Johnson and Cindy Turner, he was unable to withdraw any funds, despite the apparent growth of his account. Additional investments totaling 512,100 USDT, including fees, were also lost due to various imposed fees and alleged mistakes. Further research linked BIB to websites and social media accounts using similar logos and names, but DFI has not confirmed if they are related. The DFI advises caution when engaging with unlicensed investment platforms and provides resources for verifying licensing status and checking for complaints against investment professionals.

Source: Bitcoin

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