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Ohio fraud unit recovers $130K in crypto scam case

Ohio fraud unit recovers $130K in crypto scam case

GrafaGrafa2024/10/10 07:45
By:Liezl Gambe

Ohio's newly established Electronic Fraud Investigations unit has claimed its first success, recovering $130,000 from a cryptocurrency scam that targeted a 75-year-old woman from Worthington. 

Ohio Attorney General Dave Yost announced the recovery, marking a significant achievement for the unit, which was created to address complex cyber financial crimes, particularly those involving cryptocurrencies.

The victim was deceived into withdrawing $1,000 and depositing it into a Bitcoin (CRYPTO:BTC) ATM after receiving a fraudulent message on her computer. 

The scam escalated, leading the woman to make additional deposits, provide personal information, and grant access to her bank accounts and cryptocurrency wallet. 

In total, the victim lost $280,000 before the Ohio Bureau of Criminal Investigation (BCI) intervened, successfully recovering $130,000.

The BCI’s unit was formed to assist local law enforcement in handling increasingly sophisticated cyber fraud cases. 

Collaboration between the Electronic Fraud Investigations unit and the Worthington Police Department led to the tracing and freezing of the stolen funds on the blockchain.

Attorney General Yost highlighted the importance of public awareness in combating cryptocurrency scams, stating, "Education and prevention are the best deterrents for consumers against cryptocurrency scams." 

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