According to BlockBeats, on June 14, the Securities Division of the Department of Financial Institutions (DFI) in Washington State issued a consumer warning about a potential fraud case involving a crypto trading platform called Ethfinance. An investor reportedly transferred a total of $310,000 from their DeFi wallet to the platform after learning about it through a connection made on LinkedIn. However, when the investor attempted to withdraw some of the initial capital and profits, they were told that they needed to add more funds to complete a 'smart contract' before they could withdraw the money.
The DFI stated that the investor did not send any additional funds. The investor was unable to withdraw any money from their account, which had been locked. The case appears to be a 'prepaid fraud' case, but these allegations have not yet been confirmed. The platform has been mentioned in previous complaints. A resident of California reported that they encountered a stranger online who offered to teach them how to make money by trading cryptocurrency options, resulting in a loss of over $165,000.