Life savings vanish after business owner duped by cryptocurrency scam

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A 70 year old man who for decades had run his own business has had his retirement savings obliterated by a sneaky cryptocurrency scam. The fella (who shall remain nameless to protect his identity) hoped to use the quarter of a million saved to purchase a mortgage free bungalow for him and his wife to wind down their golden years. “I wanted to do this online trading as everyone was saying how good it was, to give us a better lifestyle,” he lamented. Assuming he was collecting profits, he was drawn into a cycle of investing more in order to get money out.

Readers beware! if it sounds too good to be true, it usually is. Don’t be taken for a mug when it comes to your funds.

The tricksters said they needed ten percent from him to get his money out. He said he was ill, and collapsed while on the call, meanwhile they were still on the line when paramedics arrived. During his illness, he kept receiving text messages pleading for more funds. in his confusion, he’d agreed to hand over more money and eventually lost more than £250,000 in life savings. Major Banks have been issuing warnings about fraudulent cryptocurrency trading, and are unlikely to refund any of his losses, sadly.