The CFTC claims that Debiex employees were involved in various roles. The first group, known as “agents,” reached out to potential clients on social media and convinced them to open and fund trading accounts. The second group, referred to as “technical support,” assisted clients in setting up and managing their accounts. Lastly, there were “money mules” who provided cryptocurrency addresses to Debiex to receive client funds, with defendant Zhāng Chéng Yáng falling into this category.
According to the CFTC, the Debiex websites presented themselves as a legitimate trading platform but did not actually engage in cryptocurrency trading. Instead, the platform’s management allegedly appropriated investor funds for personal gain, while sending fake screenshots and false information to deceived clients.
The CFTC is seeking an administrative fine against the defendant and wants Debiex banned from engaging in trading activities. Additionally, the agency aims to ensure the return of funds to investors and hopes that further legal actions will be taken against the platform as deemed appropriate by the court.
In a separate development, the CFTC recently issued a warning to cryptocurrency exchanges, stating that it would prosecute those attempting to bypass Know Your Customer (KYC) procedures, regardless of their location outside the United States.