A few days ago, a WFAA reported on a North Texas crypto scam similar to what others our law firm is representing (click here). Here is some basic information from this scam in Ellis County Texas:

A U.S. Navy veteran living in Ellis County wishes he never responded to a message from an unknown woman on Facebook last December. The woman enticed him to take out loans and invest his savings, along with retirement funds, in an elaborate crypto scam that has placed him in dire straits. 

It also helped that several of the vet’s mutual friends had accepted the fraudster’s friend request on Facebook, signaling that maybe people he knew knew her. 

The woman shared a crypto investment opportunity with the vet that would lead to immediate and profitable gains. She asked him to convert cash to crypto on a legit trading website and then funnel it to a platform she was using, where short, fast investments would grow exponentially. 

The vet was skeptical but invested a small amount to see if it was real. 

“I started with $1,000 and did a couple of trades. I made about $600, made a withdrawal, and it made it to my bank, and I was like, okay, this was legitimate. But I’m afraid that was just a carrot to get me to invest more.” 

The vet’s next investment went from $1,000 to $47,000 and they only grew from there. Each time, he was constantly shown a balance of profit from the ‘imposter’ platform the fraudster was using. 

Read the entire article at this link: https://www.wfaa.com/article/news/local/north-texas-veteran-out-400k-after-elaborate-get-rich-quick-crypto-scam/287-690d181e-c01e-4aa6-b373-1b37c73e36ac

If you believe that you were defrauded in a cryptocurrency trading scam like this, then you are welcome to contact the law firm of Wyde & Associates in Dallas, Texas. We look forward to discussing your situation and how we may be able to represent you.