Consumer complaint received 2026-05-28 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: Foris DAX, Inc.
State: CA

Complaint narrative:
Date : XX/XX/XXXX Consumer Financial Protection Bureau XXXX. XXXX XXXX XXXX XXXX DC XXXX Formal Complaint Against Crypto.com Regarding Fraud Losses, Inadequate Consumer Protection, and Failure to Escalate Suspicious Activity To Whom It May Concern, I am submitting this formal complaint against Crypto.com concerning its handling of fraudulent cryptocurrency transactions, deficiencies in its fraud prevention systems, and failures relating to consumer protection and suspicious activity response. I became the victim of a sophisticated cryptocurrency-related fraud scheme involving numerous XXXX transactions processed through infrastructure associated with Crypto.com during XXXX. The transactions reflected repetitive, structured, and high-value transfers commonly associated with fraudulent investment activity and suspicious financial behavior. The transactions included substantial transfers such as : XXXX XXXX on XX/XX/XXXX XXXX XXXX on XX/XX/XXXX XXXX XXXX on XX/XX/XXXX Multiple repetitive transfers between approximately XXXX and XXXX XXXX throughout XXXX, XXXX, and XX/XX/XXXX These transactions exhibited characteristics commonly associated with scam typologies, including structured transaction activity, repeated high-value transfers, and movement through clustered wallet infrastructure. After I formally disputed the matter and requested investigation and assistance, Crypto.com informed me that it would not provide reimbursement and instructed me to have law enforcement authorities contact the company directly through its designated law enforcement email channel. While Crypto.com stated that it had taken appropriate actions internally concerning the provided addresses, it refused to provide meaningful transparency regarding the nature of those actions, whether suspicious activity alerts were triggered, or whether preventative intervention measures had been considered. I am concerned that Crypto.com shifted the entire burden of escalation and investigation onto the victim rather than proactively addressing suspicious transaction indicators or meaningfully assisting consumers who may have been exposed to fraud through its platform. As a Virtual Asset Service Provider handling substantial cryptocurrency transaction activity, Crypto.com is expected to maintain effective AML, suspicious transaction monitoring, customer due diligence, and fraud mitigation systems consistent with regulatory obligations and FATF guidance. I believe the circumstances surrounding this matter raise serious concerns regarding : The adequacy of Crypto.coms fraud detection and suspicious transaction monitoring systems The effectiveness of its escalation and consumer protection procedures Whether enhanced due diligence measures were appropriately applied Whether consumers receive meaningful assistance when reporting fraud-related activity Whether Crypto.com maintains adequate and accessible complaint handling systems for fraud victims I respectfully request that the Consumer Financial Protection Bureau : 1. Investigate Crypto.com regarding its handling of fraud-related complaints and suspicious cryptocurrency transactions. 2. Determine whether Crypto.com failed to implement reasonable safeguards designed to identify and mitigate suspicious activity associated with fraudulent investment schemes. 3. Investigate whether Crypto.coms consumer support and complaint escalation systems are adequate for victims of cryptocurrency fraud. 4. Require preservation of all transaction monitoring records, blockchain analytics data, wallet risk assessments, internal compliance reviews, device logs, IP logs, and communications associated with my transactions. 5. Determine whether Crypto.com engaged in unfair, deceptive, or abusive acts or practices relating to fraud prevention and consumer protection. 6. Assist in pursuing restitution or other appropriate consumer remedies where warranted. I am prepared to provide transaction records, blockchain tracing data, wallet information, screenshots, and correspondence relevant to this matter. Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation