Connecticut AG Warns Against Offshore DeFi Platforms After Resident Loses $200K 

• Connecticut AG William Tong warns against offshore, unregulated DeFi platforms.
• A resident lost $200,000 after being misled into using a DeFi exchange.
• Commissioner Jorge Perez urged users to verify platforms to avoid losses. 

Connecticut Attorney General William Tong has issued a formal consumer alert warning residents against unregulated, offshore decentralized finance exchanges, naming platforms including GMX, Gains Network, dYdX, Aevo, Drift Protocol, Vertex Protocol, and Hyperliquid.

A Costly Wake-Up Call

The alert notes the Office of the Attorney General is aware of a Connecticut resident who lost $200,000 after being misled into using an unregulated DeFi exchange. The consumer has been unable to recover the money.

“These platforms are built to lure investors in with promises of easy access and bigger returns. What they don’t advertise is that if somet…

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