Man Loses N192 Million in Cryptocurrency Scam
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An American man Brandon Larsen has lost $384,006 (N192 m) to a cryptocurrency scam
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Larsen downloaded an app that he assumed was from the company that he trades with but it turned out to be fake
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All the money that deposited was lost to the scammers before he realised his mistake
As the crypto market boomed last year, many investors were attracted because they saw it as an opportunity to make easy money.
Many have been left disappointed after losing their funds to the volatility of the market and scammers in the crypto space.
One individual that can attest to this is Brandon Larsen. The American man lost the sum of $384,006 (N192 m) to a cryptocurrency scam.
Larsen wanted to trade more conveniently and he downloaded an app that he thought was related to his crypto exchange.
The app turned out to be fake and all his deposited money vanished leaving him to lick his wounds.
A spokesperson for the Federal Trade Commission Christopher Leach has revealed that many Americans have fallen victims to various forms of crypto scams.
Read also: EFCC Recovers $20 Million Worth of Cryptocurrency Loot
Between October 2020 and March 2021, Americans have lost $80 million in various forms of cryptocurrency scams.
Scammers have found various ways to defraud traders, including using the identity of well-known investor, Elon Musk.
While Larsen doesn’t expect to recover this money again, he maintains a strong belief in the crypto market and has promised to continue trading.
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