350% or 5BTC + 150 Spins!
New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins
The $7 million that victims of a social engineering scam were deceived into sending to bogus cryptocurrency investment platforms is being returned by US authorities. Virginia’s Eastern District US Attorney’s Office said in a statement on March 21 that the scam entailed scammers winning victims’ trust before sending them to fraudulent websites.
Once victims deposited funds, the money moved through more than 75 bank accounts linked to shell companies. The transactions were falsely labeled as domestic transfers but were ultimately sent to a foreign bank. “The sites falsely represented to the victims that their investments were making sizeable gains,” the statement explained.
When victims tried to take their money out, they were tricked even more. Scammers claimed taxes were due on purported profits and sought further payments. Before discovering the deception, many were forced to submit further money.
A portion of the stolen money was recovered by the US Secret Service from a foreign bank in 2023. The bank also claimed the funds, which sparked a legal battle and a civil forfeiture lawsuit. After a settlement was eventually achieved, $7 million may be disbursed to fraud victims by US authorities.
Authorities have advised anyone who have been impacted to get in touch with the Secret Service in order to request reimbursement for their losses.