The Washington State Department of Financial Institutions (DFI), Securities Division has received several complaints regarding alleged cryptocurrency scam operations that have incorporated in Washington State. These entities include:
- Lencoin Tech Corp. (Related to the WT Finance Institute and WealthTutor)
- Malcoin Tech Corp. (Related to the FB Finance Institute and FortuneBuild)
- Opacoin Tech Corp. (Related to DAF Finance Institute and DreamAdviser)
- Novabit Inc. (Related to the Quantum Prosperity Consortium Investment Education Foundation)
- Cirkor Inc. (Related to the Zenith Asset Investment Education Foundation)
- Excellence & Innovation Inc. (Related to Ichcoin Tech Corp)
DFI has not received complaints for the following incorporated businesses, however, similar information was used on the filings with the Washington Secretary of State:
- CapitalVault LTD
- Deleno IFC International Financial Company
- EtherGalaxy Inc.
- Beaconcto Inc.
- Coinbearer Inc.
- Lightspeed Coin Ex Inc
- VaTradeCoin LTD
- Coggie Inc
- Education Pioneer Wealth Society Inc.
- Excellence Vanguard Wealth Business School Inc
- TVHCoin Inc. (Previously incorporated as VTXCoin Inc)
- Coinbeco Inc.
- FiEx Global Inc.
Fraudulent cryptocurrency platforms may utilize documents like Articles of Incorporation from States to legitimize their operations. The inclusion of a business on the Washington Secretary of State Corporations and Charities Filing System (CCFS) is not an endorsement or certification of legitimacy of the business. Additionally, businesses with an “active” status on the CCFS is only an indication that the entity is up to date on filing annual reports with the Secretary of State.
If a consumer believes a person or company has violated state law or acted improperly regarding an investment product or service, they may file a formal complaint with the Securities Division (https://dfi.wa.gov/consumers/file-complaint/investor-complaint).
Additional Resources
Virtual Currency, Cryptocurrency, and Digital Assets Information for Consumers