CFTC Levels Fraud Allegations Against Debiex Crypto Exchange
The U.S. Commodity Futures Trading Commission (CFTC) has brought to light a scheme by Debiex’s staff, who allegedly developed personal and even romantic relationships with potential customers to draw them into their trading platform. The CFTC has now sued Debiex, charging them with fraudulent activities.
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The U.S. Commodity Futures Trading Commission (CFTC) has brought to light a scheme by Debiex's staff, who allegedly developed personal and even romantic relationships with potential customers to draw them into their trading platform. The CFTC has now sued Debiex, charging them with fraudulent activities.
The crux of the matter is that these employees misappropriated clients' deposits under the guise of trading operations. In doing so, they managed to defraud at least five individuals, accumulating over $2.3 million unlawfully. The case also involves an external user accused of using his wallet to store these illicit funds.
The CFTC's lawsuit aims to ensure complete restitution for the victims and seize all profits garnered by the exchange through these illegal means. Moreover, the regulator seeks to levy substantial penalties on the company and impose a ban on its trading activities in the future.
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