The New Hampshire Bureau of Securities Regulation has issued a cease and desist order against Finstate Investment LLC, accusing it of defrauding investors via a fraudulent cryptocurrency investment website. Finstate allegedly misrepresented account activity and offered illegal guarantees against losses. A retired New Hampshire resident, persuaded via Facebook to invest $3,526 in cryptocurrency with Finstate, saw a supposed account balance rise to $60,762. However, the investor could not withdraw funds, and Finstate allegedly never traded the funds but instead sent them to crypto exchange Binance. The Bureau claims Finstate’s actions are fraudulent, demanding an immediate halt to its operations, restitution for investors, and fines. The Bureau highlights a growing trend of social media being used to facilitate scams and advises careful vetting of investment solicitations. Finstate has the right to challenge these allegations in an administrative hearing.