Jason had been researching cryptocurrency investments on WhatsApp. At the same time, a scammer called “Jenny” approached Jason on a different forum and they started chatting, developing what Jason thought was a good friendship. Eventually, Jenny mentioned that her uncle was very successful in cryptocurrency investments. She explained that regular returns were up to 60% and offered to arrange Jason’s investment through her uncle, so he knew his money would be safe.
Jason agreed to make an initial investment and was impressed with how much he’d profited. Jenny encouraged him to invest larger amounts, which continued to make good returns. Jason trusted Jenny and had no suspicions about his new successful investment portfolio.
Jason’s bank contacted him several times, concerned about the large sums of money he was investing in cryptocurrencies in such a short time. He’d been so careful in setting up multiple cryptocurrency wallets and by starting with smaller investments, he didn’t believe it was a scam. The bank refused to transfer any more money to any cryptocurrency facility.
Eventually, Jason attempted to start withdrawing his profits. He found he had no access to his cryptocurrency wallet, and he couldn’t get in contact with his friend Jenny, who had arranged the investments. Jason had over $500,000 stolen.
Sharing his story
Jason reported the scam and then phoned a financial counsellor. Jason felt relieved to share his story without fear of judgement. He was too embarrassed to tell anyone he knew that he’d been scammed.
