Scammers Posing as  Cryptocurrency Investors Steal
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Scammers posing as cryptocurrency investors steal $187,000 from a Utah woman, she was buying and selling cryptocurrency on a reputed website. 

Dianne while talking to KSL Investigators said the scammers were sweet to talk with and gained her trust by coaching her on cryptocurrency investment-based bogus trades. She realized this after losing nearly $200,000.

According to her, the man said he was a self-made man and was good with investing in Bitcoin. He further offered to train her on how to trade cryptos. This encouraged her to bring in her $20000 savings into play and signed up on what she thought was a crypto-trading website., Within the next few days, she was excited as it seemed to be paying off. 

Dianne added, “And so, he said, ‘It’s too bad that you don’t have more money because we could do longer nodules and make more money.” 

He conveyed to Dianne to open credit cards and take a loan against her home to invest more to cover the taxes and fees that came with each trade. Image this man’s plans working wonders, she would have ended up losing more than $500,000.

Dianne recalls she was told to pay $120,000 to get my now $522,000 back. Though she said she did not have any more money and she would have to borrow that much from others. 

By the time she realized she was trading with a bogus man on a fictitious website it was too late. Such incidents are not rare, such tricks are used by scammers from time to time. 

Better Business Bureau’s Scam Tracker Report in a report said, “Scams related to crypto-currency jumped from the seventh riskiest scam in 2020 to second riskiest in 2021.” 

According to Alex Hamerstone, advisory solutions director for a cyber security firm, TrustedSec, “These types of things are extremely common, especially with the kind of the combination of a romance scam.” 

He further added, “Cryptocurrency is something that, you know, scammers love it. Because it’s designed to be less trackable and decentralized. And it’s much harder to get back if you even can if lose it.”

Hamerstone said people can be ruthless and many will blame the victim, as they should know better, whatever else it is. This is what keeps people from reporting such incidents. 

While talking about her experience Dianne, “In the beginning, I wasn’t going to tell anyone. I really wasn’t. I was so ashamed and embarrassed.”

Later she made up her mind to be brave and share her story with hopes of someone to help her as she was financially ruined.

She said, “What if this was one of my friends that this had happened to? I would want to know.” Dianne is now working three jobs and trying to raise money via GoFundMe to pay back the banks she borrowed from. Hope you all learn a lesson from this story and try not to indulge yourselves in such a scheme of making a quick buck.

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