United States of America: Announced CFTC public lawsuit against Debiex for alleged fraud and misappropriation in online romance scam

On 19 January 2024, the Commodity Futures Trading Commission (CFTC) announced that it filed a lawsuit in the U.S. District Court for the District of Arizona against Debiex for alleged fraud and misappropriation in an online romance scam. Debiex, a US-based crypto exchange platform, is accused of deceitfully obtaining USD 2.3 million from customers who believed they were investing in digital asset commodity trading. The CFTC seeks remedies such as victim restitution, disgorgement of gains, civil penalties, trading bans, and a permanent injunction against future violations. Debiex targeted Asian-Americans through its websites, utilising various groups, including fake solicitors, customer service personnel, and money mules.