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California authorities shut down 26 encryption fraud websites, involving over $4.6 million
According to Decrypt, authorities in California have shut down 26 websites involved in cryptocurrency scams, causing victims to lose over $4.6 million. This action is led by the California Department of Financial Protection and Innovation (DFPI), targeting multiple fraudulent investment platforms that lure investors with promises of high returns, attract them to deposit funds, and then disappear with the money. DFPI emphasizes that investors should remain vigilant when investing in Crypto Assets to avoid falling into fraud traps. (encryption)