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The City of West Hollywood is launching an effort to help inform community members about how to protect themselves from cryptocurrency fraud and scams. Cryptocurrency is digital currency acquired through an app on a phone, a website, or at a cryptocurrency Automated Teller Machine (ATM). Bitcoin and Ether are some of the most well-known cryptocurrencies, but there are many others. Scammers may use cryptocurrencies because they do not have the same legal protections as credit cards or debit cards, and payments usually cannot be reversed.

Here are some tips to avoid cryptocurrency scams:

The State of California Department of Financial Protection and Innovation (DFPI) has announced the launch of a Crypto Scam Tracker to help Californians spot and avoid crypto scams. The tracker details apparent crypto scams identified through a review of complaints submitted by the public and allows California consumers and investors to do their own research and prevent harm to themselves and others. The site features a database that is searchable by company name, scam type, or keywords to learn more about the crypto-specific complaints the DFPI has received. An accompanyingglossary aims to help consumers better understand common scams. As reports of new crypto scams emerge, the DFPI will continually update this tracker to promptly alert and protect the public.

For community members who believe they have been a victim of a scam or fraud, or hear about a scam that is currently not listed on the Scam Tracker, please notify the DFPI immediately by filing a complaint with the DFPI online at https://dfpi.ca.gov/submit-a-complaint or by calling toll-free: (866) 275-2677.

For more information, please contact Anita Shandi, the City of West Hollywoods Public Safety Manager at (323) 848-6446 or at ashandi@weho.org. For people who are Deaf or hard of hearing, please call TTY (323) 848-6496.

For up-to-date information about City of West Hollywood news and events, follow @wehocity on social media, sign-up for news updates at http://www.weho.org/email, and visit the Citys calendar of meetings and events at http://www.weho.org/calendar. West Hollywood City Hall is open for walk-in services at public counters or by appointment by visiting http://www.weho.org/appointments. City Hall services are accessible by phone at (323) 848-6400 and via website at http://www.weho.org. Receive text updates by texting WeHo to (323) 848-5000.

For reporters and members of the media seeking additional information about the City of West Hollywood, please contact the City of West Hollywoods Public Information Officer, Sheri A. Lunn, at (323) 848-6391 or slunn@weho.org.

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City of West Hollywood is Getting the Word Out About Cryptocurrency Fraud and Scams | News - City of West Hollywood