A British man was conned out of $282,000 in a brutal cryptocurrency scam.

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Men came to his residence at one time to collect additional money.

Nottinghamshire is the home county of Robin Hood, the legendary robber who stole from the affluent to give to the poor. Nowadays, the woodland area is the site of a less romantic type of theft—a nefarious cryptocurrency scheme that stole £200,000 ($282,000) from one local’s pocketbook.

out of $282,000 in a brutal cryptocurrency scam.
Men came to his residence at one time to collect additional money.

Nottinghamshire is the home county of Robin Hood, the legendary robber who stole from the affluent to give to the poor. Nowadays, the woodland area is the site of a less romantic type of theft—a nefarious cryptocurrency scheme that stole £200,000 ($282,000) from one local’s pocketbook. according to the Metropolitan Police.

The victim, who does not wish to be recognised, was duped by the con artists during an online discussion in 2020. They persuaded him to put his money into a bogus brokerage business, promising him large profits on Bitcoin’s bull run.

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The con artists also tricked the victim into granting them remote access to his computer, from which they stole sensitive personal information in order to take out loans in his name. Intimidation and harassment occurred, and the guys even showed up at his house to collect money for “further investment,” according to the Met.

Detective Sergeant David Breach said in the police report: “Reports of investment fraud have increased significantly since the start of the coronavirus pandemic, which is unsurprising when you think the vast majority of us have had to conduct nearly every aspect of our lives on a computer or mobile phone.”

June’s crypto fraud news roundup

While this fraud appears to be exceptionally wicked, crypto frauds are prevalent, and their tactics are diverse.

Apple co-founder Steve Wozniak lost his legal fight against YouTube on June 2 after scammers exploited his likeness in videos to deceive viewers. The Santa Clara County Court found that Internet platforms are not liable for user-uploaded information under US Federal Law.

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According to the US Federal Trade Commission, between October 2020 and March 2021, American customers claimed $82 million in losses to online crypto fraudsters. The situation appears to be exactly as severe in Australia. According to the Australian Competition and Consumer Commission, Australians paid fraudsters $20.5 million in Bitcoin and other cryptocurrencies last year.

Perhaps it’s time to state the obvious: Those wishing to enter the crypto space have a plethora of trustworthy onramps at their disposal. Don’t respond to unsolicited emails from unknown senders promising digital riches for the love of crypto.

 

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