Crypto Scam Empties Couple's Savings of £9 Million

A man from Minnesota has been swindled out of more than $9 million in an elaborate cryptocurrency scam that involved love and deceit.

The victim's journey from routine investments to a staggering loss unveils the dangerous allure of unregulated digital money and the risks of romantic manipulations.

The intricate plot unfolded when the man connected with an individual on LinkedIn, who showered him with promises of quick riches through cryptocurrency investments and urged him to leave his wife behind.

As the months passed, the man's investments escalated, reaching as high as $2.1 million in a single transaction. Tragically, the funds never went into the promised investments but instead were siphoned off to the scammer's own cryptocurrency wallets.

The investigation revealed that the victim believed he was investing in "Coinrule-web3" and saw an initial profit, which only fueled his trust in the scammer.

However, when he was asked to pay a hefty $2.8 million fee to claim his windfall, the truth began to unravel.

In a desperate attempt to save his investments, the man instructed his wife to liquidate all their remaining assets to pay the fee. Distraught and suspicious, the wife alerted the police to the ongoing financial drain.

Fraudsters often contact victims through social media, dating apps, or other online platforms, building false connections to gain trust.

These deceptive conversations lead victims into investing their cryptocurrency in fake websites or apps, and when they attempt to cash out, the deception becomes evident.

The Federal Bureau of Investigation (FBI) reports that cryptocurrency fraud caused significant losses of $2.57 billion in 2022, representing the majority of reported scams.

Victims aged 30 to 49 are frequently targeted, falling prey to manipulative tactics.