Huge Crypto Scam Reveals Important Lesson

If something seems too good to be true, it often is. Nowadays, the spell is gaining more and more importance as the number of scams seems to be increasing day by day. Even in the crypto world, unsuspecting investors are often put to the test in this regard. For example, a man from the US state of Minnesota who lost more than nine million dollars to a cryptocurrency Fraud.

Crypto scam on LinkedIn

according to a report The victim was instructed by StarTribune to transfer large amounts of money from his US bank account to accounts at other banks. The funds would then be invested in cryptocurrencies and huge returns promised.

The victim transferred a total of more than $9 million in about six months. The scammer managed to contact the victim in question via LinkedIn, a popular online social network. The victim’s wife was also kept completely off the boat during those six months.

Police investigation revealed that the man’s funds were used to purchase digital assets. Of course, the funds were in wallets managed solely by the scammer. The Minnesota man thought he was investing in Coinrule-web3 and quickly saw a return on his “investment”. As a result, the scammer played out his emotions, of course, and the story became much more believable.

Eventually, however, he was told that a fee of $2.8 million would have to be paid to confiscate the winnings.

Important lesson for crypto investors

On June 15, the victim’s wife alerted police that her husband had closed their investment accounts for the past six months. She stated that her husband “called her in a panic” the day before and told her to withdraw all her remaining assets to pay the fee so he could withdraw his crypto funds.

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Such stories can be seen regularly in crypto news. In this regard, scams are always lurking and investors need to be on their guard at all times. Always try to remain critical and not be fooled by nice promises.

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