CFTC Charges Crypto Platform Debiex With Fraud

The US Commodity Futures Trading Commission (CFTC) is taking legal action against a “bogus” crypto exchange accused of defrauding investors through a pig-butchering scheme.

This type of scam involves targeting victims with unsolicited messages on social media, dating apps, or texts to build trust and then introducing a fake crypto investment opportunity.

In a statement, the CFTC announced it filed a civil enforcement action against Debiex, alleging that the platform misappropriated funds intended for digital asset trading.

The complaint claims that unidentified officers and managers at Debiex developed friendly or romantic relationships with potential victims to persuade them to open and fund trading accounts.