The criminals took out loans in his name, contacted him hundreds of times, and even turned up at his house.
A British man has lost more than $282,000 through a crypto scam, police have said.
The victim was enticed into investing money into a fake brokerage firm and was told that the price of Bitcoin was about to skyrocket.
Fraudsters managed to gain access to his computer remotely and gathered sensitive information that enabled them to take out loans in his name. According to Nottinghamshire Police:
“He was threatened and harassed hundreds of times to continue to invest. On one occasion two men even visited his house to collect cash to invest further into the scam.”
Detectives are still trying to track the offenders down — and say they have seen a substantial rise in investment fraud cases since the coronavirus pandemic began.
How to Protect Yourself
Detective Sergeant David Beach has urged those who are considering making an investment to do their research first — and to “check and double check every detail before handing over your money or personal details.”
Warning that some scams use photos of well-known figures to make their ploy seem legitimate, he added:
"Fraudsters present professional and credible looking online adverts, send emails, and create websites to advertise fake investment opportunities in cryptocurrency, foreign exchange trading and bonds.”
His top tip is for consumers to be naturally suspicious if they are contacted out of the blue and invited to get involved in an investment opportunity, adding: “Remember, if something sounds too good to be true, it probably is.”