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    HomeBitcoinScam Victim Gets Back Bitcoin Worth $500K From U.S. Authorities

    Scam Victim Gets Back Bitcoin Worth $500K From U.S. Authorities


    The US Division of Justice has efficiently returned to an aged individual the bitcoin stolen by a authorities imposter.

    US Lawyer Dena J. King introduced Tuesday “the forfeiture and return of stolen cryptocurrency to [an] aged man victimized by authorities imposter rip-off.”

    On August 31 final 12 months, a complete of 12.164699 bitcoins value roughly $574,766 was stolen from the outdated man’s Coinbase account by people appearing as authorities brokers. 

    After six months, the joint investigation and profitable civil forfeiture proceedings of Federal Bureau of Investigation (FBI) and Coinbase, the scammer was lastly recognized and the sufferer’s stolen property have been seized. 

    “The seized cryptocurrency was forfeited to america authorities and might be returned to the sufferer,” the DOJ confirmed.

    Scaring The Victims

    The scammers carried out the fraud by deceiving the Asheville man into pondering that the latter was allegedly concerned in a drug trafficking and cash laundering scheme. Thus, the entire sufferer’s property can be frozen. 

    One of many fraudsters, who recognized himself as “agent James Hoffman,” knowledgeable the sufferer that he wanted to deposit cash into an account for the federal government to confirm that his property weren’t concerned in legal exercise, the DOJ disclosed.

    After taking the entire sufferer’s private data and particulars relating to his monetary accounts, the suspects then requested the sufferer to “use tons of of hundreds of {dollars} of his retirement funds” to purchase bitcoin by way of the cryptocurrency platform Coinbase. 

    BTC whole market cap at $7.78 billion on the each day chart | Supply:

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    No Bitcoin Or Monetary Data

    Final 12 months, North Carolinians reported greater than 64,000 monetary frauds value $93 million in losses, which is increased than the $74 million document in 2020, in keeping with the Federal Commerce Fee (FTC), 

    Rip-off victims are regularly aged individuals who lack primary monetary abilities or any data on bitcoin or different cryptocurrency and therefore are simple targets for scammers, in keeping with the Division of Justice.

    Criminals regularly pose as grandchildren and demand cash from aged victims on the pretext that they have to pay for, like an pressing medical or electrical energy invoice, and even their children’ faculty tuition.

    Further Precautions

    With the surge in monetary scams, the FBI and the U.S. Lawyer’s Workplace urge the general public, most particularly the seniors, to watch out in coping with transactions.

    Listed below are some methods to keep away from being scammed:

    • If it’s too good to be true, be aware of its legitimacy.
    • Don’t brazenly share private data with anybody, even with the folks .
    • Be skeptical of sudden lottery wins and prizes.
    • Don’t click on on pop-up adverts and sketchy messages that seem in your electronic mail.
    • Block spam emails and nameless calls.
    • Attempt to decrease sending reward playing cards, cash orders, and cryptocurrency with strangers.
    • Don’t give your checking account particulars except the transaction is secured and bonafide.
    • Don’t transact with nameless customers.

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    Featured picture from Kim Komando, chart from

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