Washington state DFI warns Eucoinotrade may be engaging in ‘advanced fee fraud’ By Cointelegraph

The Washington State Department of Financial Institutions (DFI) has issued a consumer protection alert addressing the “alleged cryptocurrency exchange” known as Eucoinotrade.

At least one person may have fallen victim to what appears to be “advanced fee fraud,” per the report. This is a confidence scheme that involves soliciting large sum payments for fees under the guise that they’re needed to release supposed earnings.