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A man from Queens, New York, is sharing a cautionary tale after his parents fell victim to a cryptocurrency scam, resulting in the loss of over $1 million. The scam involved forged friendship and immigration advice from a person pretending to be a helpful individual named Lin. Under Lin’s influence, the man’s father sent more than $1 million to a fake trading platform, believing it was for legitimate cryptocurrency investments.

Tragically, the family now faces the threat of losing their Connecticut home due to the financial devastation caused by the scam. The CBS New York Investigative Team has discovered evidence indicating the existence of a larger fraud ring involved in the scam. It is estimated that there may be over two dozen victims across approximately 12 states.

Scammer Bank Account Trail Leads to Hong Kong

The trail of the scammer’s bank account has led investigators to Hong Kong, which presents challenges for the ongoing investigation due to a lack of cooperation from certain countries. The scammers have also managed to keep their phony investment website active, encouraging unsuspecting individuals to sign up.

In an alarming revelation, numerous websites with the same design and layout as the fraudulent platform have been uncovered. Some of these sites even use legitimate company names and logos to deceive victims. This discovery underscores the need for individuals to be extremely cautious when engaging with cryptocurrency investment opportunities and to conduct thorough research before committing any funds.

By Joane

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