Wu learned that some users have reported that virtual cards provided by EtherFi were used fraudulently without any purchases or pre-authorizations. Crypto KOL @keyahayek stated that EtherFi may have issues in its upstream and downstream processes and advised users to stop using the service. EtherFi CEO Mike Silagadze responded that the company is investigating the matter with its credit card partners and that all users who experienced fraudulent transactions will receive a refund.