FBI investigating after Strongsville man loses $500,000 in cryptocurrency scam

FBI investigating after Strongsville man loses $500,000 in cryptocurrency scam

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CLEVELAND, Ohio (WOIO) – A Strongsville man said someone who appeared to be a financial adviser tricked him into investing $500,000 in a fake cryptocurrency website.

The FBI is now investigating this case and was unable to provide further details, but they said this scam is a growing problem across the country.

“Losses in 2021 were more than $429 million and in 2022 that figure almost doubled to about $700 million,” Licate said.

Susan Licate of the FBI in Cleveland said that sometimes these scams can start on dating websites where a scammer will build trust with the victim and then convince them to invest in a fake cryptocurrency account.

“When the victim deposits more money, and sometimes even the scammer brings in a fake customer service group to put a little more pressure on the victim and they deposit that money and it goes from there,” Licate said.

Cryptocurrency is a digital asset, unlike real money, that is used to trade and invest in digital assets.

Many wonder how it can be so “easy” to fall into this trap. Licate said these scammers can be very deceptive.

“These scammers are very smart and what they are trying to do is gain the trust of the victim,” Licate said. “Usually, they urge you to act now, act fast. Again, it builds on that romance and that promise to believe me, I know what I’m doing. I can help you, we’ll make some money.”

If you think you might be a victim, you can report it to the fbi.

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