New York-Based Troy Couple Latest Victim of $44K Bitcoin Scam

According to Derigiotis, it’s all about learning by doing.The FBI Internet Crime Report Center received a complaint from the victims.

According to authorities, a couple in Troy, New York, was allegedly scammed by two persons who contacted them over WhatsApp and Telegram. Scammers claimed to earn a lot of money by exchanging Bitcoin for their victims. Several Bitcoin transactions and six weeks later, they’d lost $44,000 on websites that turned out to be a scam.

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As a result of their investments, the victims were informed their accounts were “frozen” until they paid a service charge of 13 percent, according to police. The FBI Internet Crime Report Center received a complaint from the victims once they learned they had been duped.

User Has Complete Control

Not only is a crypto scam becoming more popular because of its rising worth, but the user has complete control over the money, which is kept in a digital wallet—not influenced by markets, inflation, or the handling of a financial institution. In addition, this implies that if anything goes wrong, one is on their own.

For the Troy couple and other victims of crypto frauds in 2020 and 2021 who together lost $80 million, this is the end of their hopes. According to Derigiotis, a cyber-risk specialist at Burns & Wilcox, only spend what you are ready to lose while also providing some warning signs that you are likely to be scammed.

As Derigiotis put it:

“What it boils down to is, you need to know who you are working with, their credentials, their history, their resume, their pedigree they have.”

In addition, he claims that there is no certification to operate with crypto money at this moment, so you must have communication other than the internet, discover their credentials, corporate affiliation, and track record. According to Derigiotis, it’s all about learning by doing.

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