Man scammed out of more than $1M in cryptocurrency
Blomofield Township Police said they’re seeing more fraud cases than ever before – but one stands out after a man lost more than $1 million in crypto.
BLOOMFIELD TWP, Mich. (FOX 2) – Bloomfield Township Police are urging people to look out for scammers who are finding new ways to steal your money after they were able to swipe over $1 million in cryptocurrency.
According to police, they have never seen so many fraud cases as they are right now. In particular, there was one where a man was scammed out of $1.2 million in crypto.
“Fraud is the fastest growing crime in the country and its so hard to trace,” said Bloomfield Township Police Community Relations Officer Nick Soley.
Solely said the chances of that money getting returned is virtually nothing.
“That money has already been transferred overseas we believe to India,” he said.
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The victim had his phone hacked, specifically, his sim card which stores all of your phone’s data. Once they got into his sim card, it gave the scammers access to his banking apps.
“He opened his phone day and realized half of a million had been taken in cryptocurrency. He called his phone provider and the provider told him that a SIM swap was initiated on his phone,” Soley said.
That all happened without the victim even knowing but this isn’t the only scam Soley said they’re seeing right now.
