Washington State Department of Financial Institutions
08/09/2024 | Press release | Archived content
Elonsphere.com: Alleged Cryptocurrency Trading Platform Suspected of Fraud
The Washington State Department of Financial Institutions (DFI), Securities Division has received a complaint from a Washington resident regarding Elonsphere.com, a purported cryptocurrency trading platform. The website is no longer accessible.
The investor claimed that their Facebook friend contacted them about Elonsphere.com. The investor later found out that their friend's Facebook account had been hacked. The investor deposited nearly $6,000 to Elonsphere.com and was not able to retrieve their funds. These allegations have not been verified by DFI. This appears to be a social media investment fraud.
DFI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services. Investment professionals need to be licensed with DFI to offer investments to Washington residents. In addition, most investment products sold need to be registered with DFI. To check the licensing status and to find out if there are any complaints against an investment professional or investment product, please visit FINRA Brokercheck or contact the Washington State Department of Financial Institutions, Securities Division at (360) 902-8760. If you live outside of Washington State, contact your state securities regulator.
If a consumer believes a person or company has violated state law or acted improperly regarding an investment product or service, they may file a complaint with the Securities Division.
Additional Resources
Virtual Currency, Cryptocurrency, and Digital Assets Information for Consumers