The city of West Hollywood is launching a campaign to help inform community members about how to protect themselves from cryptocurrency fraud and scams.
Scammers often use cryptocurrencies because they do not have the same legal protections as credit cards or debit cards, and payments usually cannot be reversed. No legitimate business or government agency will ask for any type of payment with cryptocurrency. Never pay a fee to get a job, and never mix cryptocurrency and online dating.
The California Department of Financial Protection and Innovation has launched a Crypto Scam Tracker to help Californians avoid crypto scams. For information, call (866)275-2677, or visit dfpi.ca.gov/submit-a-complaint.