The Washington State Department of Financial Institutions has issued a
fraud warning pertaining to COS
.

Describing COS as a “fraudulent cryptocurrency trading platform”, DFI took action following a consumer complaint.

COS
is a simple “click a button” app Ponzi run by Chinese scammers. As part of the ruse, COS pretends to be based out of Washington.

On the website “coscoins.com”, COS claims to be “a technology company based in Washington, USA, we founded COSCOIN in 2015”.

A CosCoin LLC Washington shell company certificate is also provided:

Addressing these representations, DFI warns

The Coscoin entity is a limited liability company registered in Washington with a purported principal place of business located in Fife, Washington.

However, the Securities Division could not confirm that the business is actually located there, or engaged in lawful business activities.

Jackson Blaze is listed as Coscoin’s Governor on the Washington Secretary of State’s corporate filings.

The phone number provided does not appear to be a valid phone number listing for the United States.

Despite representations that it has been around since 2015, COS only launched a few months ago.

SimilarWeb tracks top sources of traffic to COS’ two known website domains as:

“coscoins.com” – UK (40%), UAE (Dubai, 39%) and Hungary (10%)

“cosetek.com” – Russia (29%), UK (19%) and Germany (13%)

SimilarWeb’s data suggests the UK is being heavily targeted by COS scammers.

🤖 Quick Answer

What is COS and why did Washington authorities issue a fraud warning?
COS is a fraudulent cryptocurrency trading platform operating as a Ponzi scheme run by Chinese scammers. The Washington State Department of Financial Institutions issued a warning after receiving consumer complaints. Despite falsely claiming to be a Washington-based technology company founded in 2015, COS operates a simple button-clicking app designed to defraud investors through unsustainable returns.

How does COS deceive investors about its legitimacy?
COS misrepresents itself through multiple deceptive practices. The platform claims to be headquartered in Fife, Washington, and maintains a website suggesting it founded Coscoin in 2015. Additionally, COS registers a shell company in Washington to appear legitimate, though regulators could not verify its actual business operations or authorized status.

What action has been taken against COS?
The Washington

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