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Cryptocurrency websites hnd-global.com; hxtrade.ltd and hndglobal.co appear to be engaged in fraud against California consumers

The California Department of Financial Protection and Innovation (DFPI) has received a complaint from a California resident regarding hnd-global.com, hxtrade.ltd and hndglobal.co.

A California resident told DFPI he was the victim of an elaborate cryptocurrency trading fraud. He was persuaded by two WhatsApp and Telegram contacts he believed were friends, “Alina” – who claimed to be a financial advisor – and “Mr. Make” – who described himself as a mentor that could help develop a trading plan – to open a cryptocurrency trading account and invest money for profit. After making an initial investment of $5,000, the victim borrowed $25,000 from his 401K and took out a $50,000 personal loan after being told he could make profits of $150,000. He was able to make two successful withdrawals totaling $1,100, but no more after that. After several months of “guidance” both Alina and Mr. Make disappeared. The victim tried numerous times to communicate with HND Global through email and chat support but received no reply. The victim claims the website was moved several times from hnd-global.com to hxtrade.ltd and finally to hndglobal.co. These allegations have not been verified by DFPI.

This appears to be what is commonly called an “Advance Fee scheme,” which can take many forms, as discussed here: https://www.fbi.gov/scams-and-safety/common-scams-and-crimes/advance-fee-schemes.

The DFPI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services. To check whether an investment or financial service provider is licensed in California, consumers may contact the Department for questions or inquiries at ask.dfpi@dfpi.ca.gov or call toll-free at (866) 275-2677. If a consumer believes a person or company has violated state law or acted improperly regarding a consumer financial product or service, they may file a formal complaint with the DFPI at https://dfpi.ca.gov/file-a-complaint/.