Massive BTC fraud from fake Bitcoin sellers

As the price of bitcoin continues to rise, scammers are not standing idle. It is becoming increasingly important to be wary of these people.

Two suspects have been charged with stealing almost $ 500,000 from unsuspecting victims in fraudulent Bitcoin transactions in Hong Kong.

Bitcoin theft

Tuesday, March 23, 2021, the victims, aged 33 and 31, were duped by two scammers in a fake bitcoin transaction, according to a report by the South China Morning Post on Tuesday. Individuals posing as bitcoin sellers managed to steal $ 495,650 from victims.

The victims, who worked at a foreign exchange company, went to a shop in Tin Hau to buy bitcoin with cash. Meanwhile, an unidentified middleman linked buyers to fake Bitcoin sellers.

After one of the scammers handed over the cash to the scammers, he left the shop with the fund, pretending to do some paperwork related to the transaction.

However, when the seller did not return after a long time, buyers began to suspect a game. The buyers tried to find the seller with the money, while the other conman tried to escape when the victims threatened to report the matter to the police.

After a brief chase, the fake Bitcoin dealer was caught and handed over to law enforcement. The suspect is being questioned in police custody, while the other con man who disappeared with the money is still missing.