CLEVELAND, Ohio (WOIO) – Solon police said a local woman lost more than a half-million dollars in an online cryptocurrency scam.
According to information from the Solon Police Department, officers started the investigation on March 2 after a woman who resides on Flanders Drive reported a theft.
The 53-year-old victim told investigators that she met a man on LinkedIn who claimed that he would help her invest money into cryptocurrency.
The first investment resulted in a “quick profit,” according to Solon police, which prompted the victim to begin investing more money through Coinbase and transfer profits to an account that she did not initially realize was fraudulent.
Police said the woman was told by a fictitious company that she would have to pay taxes on the funds, as well as a security deposit.
According to detectives, the woman grew suspicious and eventually reported it as a scam.
The woman reported that she is currently at a loss of approximately $600,000.
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