Crypto Platform Debiex Ordered to Pay $2.5M to CFTC in Fraud Case

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A US federal judge has ordered Debiex to return approximately $2.26 million to its customers, which the platform allegedly took through romance scams. An additional civil penalty of nearly $221,500 was also imposed.

The CFTC demonstrated that Debiex falsely posed as a crypto platform. On March 13, Judge Douglas granted the CFTC’s motion for summary judgment, noting that Debiex did not respond to the CFTC’s claims and there was no evidence of “excusable neglect.”

The CFTC filed the case against Debiex in January last year, accusing it of running a “pig butchering scam.” This involved scammers creating fake romantic relationships on social media to lure victims into investing in the fraudulent platform.