Daniel Chartraw, the owner of Crypto-Pal LLC and TDA Global, has been accused of wire fraud for allegedly deceiving investors by falsely claiming to have developed a unique algorithm for generating high returns on cryptocurrency investments. Instead of investing the money, he used it to fund his personal lifestyle. Investment scams, including those related to cryptocurrency, have cost consumers $4.6 billion, and scammers are exploiting the lack of regulation and investors' fear of missing out. To protect yourself, investigate the person offering the investment with the Securities and Exchange Commission's Central Registration Depository and check with your state's securities regulation office.