Cryptocurrency

How an Australian Man Lost $450,000 To a Bitcoin Scam On Facebook

How an Australian Man Lost $450,000 To a Bitcoin Scam On Facebook

How an Australian Man Lost $450,000 To a Bitcoin Scam On Facebook

  • A man, Mr. Kevin Barraclough has lost almost $500,000 online after signing up for a Bitcoin scam

  • Mr. Barra Clough was offered an investment opportunity by a stranger on Facebook but ended up losing his money

  • Kevin is in a battle with his bank for allowing the transactions to occur

A 67-year-old man, Mr. Kevin Barraclough has lost his fortune to an online bitcoin scam on Facebook.

Mr. Kevin BarraClough

Mr. BarraClough inherited this money when his mother died and he planned to invest it and give the proceeds to community groups.

While browsing through Facebook, Kevin came across a website that offered people the chance to make millions from bitcoin.

Bitcoin scam

Kevin typed in his phone number and received a call from the scammer who asked for his email and bank details to begin with the investment.

Mr. Barraclough disclosed these details because the person sounding pretty convincing.

An initial $250 was made before the bank blocked the scammers from initiating other transactions.

Mr. Barra Clough visited his bank’s local branch and had the block removed.

Between April 3 and May 15, a total of 43 transactions were made on Kevin’s account and he lost all his money totaling $451,397.41.

According to his brother, Allan, Kevin is a vulnerable man and is unable to determine false information.

Kevin and Allan
Kevin and Allan

Read also: Instagram Influencer Scams Followers and Collects Their Bitcoin

Kevin and Allan Barraclough are currently seeking compensation from Westpac for the money lost in the Bitcoin scam.

Allan and Kevin have visited the bank and police severally but the money has not been recovered.

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