Cryptocurrency platform Debiex ordered to pay $2.5M for running romance scam ring

From Cointelegraph
March 16, 2025 10:11:07 PM:

Crypto platform Debiex has been ordered to pay around $2.5 million after failing to respond to a US Commodity Futures Trading Commission suit for running a romance scam ring. Arizona federal court Judge Douglas Rayes granted the CFTC’s motion for summary judgment, ordering Debiex to pay back $2.26 million stolen from customers and a civil penalty of nearly $221,500.

The CFTC sued Debiex in January 2024, alleging its staff ran a “pig butchering” scam by initiating romantic relationships with customers over social media to gain trust and convince them to invest. Five victims deposited around $2.3 million, which Debiex stole, according to the CFTC.

The CFTC also accused Zhāng Chéng Yáng of being a “money mule” for Debiex, with his crypto wallets used to accept and steal victims’ funds. Judge Rayes granted a default judgment against Zhāng, ordering the transfer of nearly $119,500 in Tether and Ether to an unnamed victim.

Debiex’s scheme targeted victims through social media, luring them to websites marketing as a “Blockchain Network Decentralized perpetual contract trading platform.” The staff presented as females, built rapport with victims, and shared false information about balances and profits, ultimately sending the crypto to various wallets.

The CFTC’s complaint in January 2024 outlined Debiex’s fraudulent activities, where customers’ digital assets were sent to multiple wallets to obfuscate their destination. The evidence showed that the information provided by Debiex was likely false, leading to significant losses for customers.

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