A fraudulent letter is impersonating California's Department of Financial Protection and Innovation to request a security deposit for crypto mining activities. The alert warns consumers about this scam. It was issued on December 5, 2025.
The Department of Financial Protection and Innovation (DFPI) has issued an alert regarding a sham letter that falsely claims to represent the agency. This fraudulent correspondence requests a "security deposit" in connection with cryptocurrency mining activities.
According to the DFPI, the letter is not legitimate and is designed to deceive individuals into sending money. The agency emphasizes that it does not request security deposits or payments for such purposes through unsolicited letters.
This scam highlights ongoing risks in the cryptocurrency sector, where fraudsters often impersonate regulatory bodies to gain trust. Consumers are advised to verify any communications directly with official sources and report suspicious activities to the DFPI.
The alert serves as a reminder for vigilance against impersonation schemes targeting emerging financial technologies.