The Commodity Futures Trading Commission of the United States is initiating legal proceedings against the cryptocurrency exchange Debiex, accusing it of being involved in a romance fraud scheme worth $2.3 million. On January 19, the US authority made public its decision to pursue legal proceedings by initiating a lawsuit in the US District Court for the District of Arizona. In related news, Michael Saylor cautioned the general population against fraudulent schemes offering complimentary MicroStrategy Bitcoin. Explanation of the Accusations Regarding Debiex’s Supposed Romantic Fraud. The CFTC’s announcement indicated that Debiex portrayed itself as a cryptocurrency trading platform, providing American citizens with the ability to trade digital assets. Nevertheless, the whole arrangement was a deceit aimed at defrauding Asian Americans of their investment funds by employing the tactics of a romance scam. The CFTC characterizes Debiex’s activities as a “complex scam,” which included the collaboration of three different cohorts of participants. These individuals, referred to as “solicitors,” created connections with potential victims using a social media platform based in the United States. Much like typical romance scams, these “solicitors” earned their targets’ confidence by forming friendships or engaging in romantic relationships with them, subsequently encouraging them to start a trading account with Debiex. A passage from the notification issued by the Commission said: According to the accusations from the CFTC, anonymous individuals in leadership roles at Debiex established connections, sometimes of a friendly or intimate nature, with prospective clients, using deceptive statements to earn their confidence. They then encouraged these individuals to start and fund trading accounts at Debiex. Additionally, the scheme involved a group labeled as “customer service,” purportedly responsible for overseeing the trading accounts of clients on the exchange.