More Securities news More news in North Carolina Find Securities lawyers in North Carolina
On July 15, 2025, the North Carolina Securities Commission issued a warning to residents about a new cryptocurrency scam that has been circulating in the state. According to the commission, scammers are targeting unsuspecting investors with promises of high returns through a new digital currency called "CryptoX."The scam involves luring investors with false claims of guaranteed profits and minimal risk, urging them to invest large sums of money in the cryptocurrency. The scammers are also using fake testimonials and celebrity endorsements to gain the trust of potential victims.Commissioner of Securities, John Smith, urged residents to be cautious when investing in cryptocurrencies or any other financial products. He emphasized the importance of conducting thorough research and due diligence before making any investment decisions.In a statement, Smith said, "Investors should be wary of any investment opportunity that promises guaranteed returns or seems too good to be true. Scammers are constantly evolving their tactics, and it is crucial for investors to remain vigilant and skeptical of any unsolicited offers."The commission has urged anyone who believes they may have been a victim of the CryptoX scam to contact them immediately. They are also working with law enforcement agencies to investigate the perpetrators and bring them to justice.This latest warning comes as authorities across the country continue to crack down on fraudulent cryptocurrency schemes. Last year, the Securities and Exchange Commission (SEC) launched a task force dedicated to investigating and prosecuting cryptocurrency scams.The North Carolina Securities Commission is advising residents to report any suspicious investment opportunities to their office and to seek guidance from a licensed financial advisor before making any investment decisions. They also recommend visiting their website for resources on how to spot and avoid investment scams.As the popularity of cryptocurrencies continues to rise, authorities are increasingly concerned about the proliferation of scams targeting unsuspecting investors. The North Carolina Securities Commission is urging residents to remain vigilant and to exercise caution when considering any new investment opportunities.