The cryptocurrency platform Debiex has been ordered by an Arizona federal court to pay about $2.5 million due to its involvement in a romance scam that defrauded customers. The ruling, issued by Judge Douglas Rayes on March 13, followed a motion for summary judgment filed by the U.S. Commodity Futures Trading Commission (CFTC). The court determined that Debiex must reimburse approximately $2.26 million stolen from its users and pay an additional civil penalty of nearly $221,500.
The CFTC had initiated legal action against Debiex in January 2024, alleging that the platform operated under a scheme known as “pig butchering.” This scheme involved building romantic relationships with victims through social media as a tactic to gain their trust and persuade them to invest in Debiex. The commission reported that five victims had collectively deposited around $2.3 million into the platform, all of which was subsequently misappropriated by Debiex.
In a related finding, Judge Rayes issued a default judgment against Zhāng Chéng Yáng, described as a “money mule” for Debiex. The judge confirmed that Yáng controlled a crypto wallet on the OKX exchange, which facilitated the acceptance and theft of victims’ funds. As part of the ruling, the judge directed that the contents of Yáng’s wallet, including a minimal amount of Tether (USDT) and nearly 63 Ether (ETH) valued at approximately $119,500, be transferred to an undisclosed victim.
According to the CFTC’s complaint, the scam involved deceptive practices where the perpetrators posed as female traders and maintained constant communication with potential victims. They reportedly used fabricated images and assured victims of their success in digital asset trading. Once victims created accounts and deposited cryptocurrency, Debiex provided false information regarding account balances and trading profits, ultimately diverting the assets to numerous digital wallets to obscure their final destinations.
