Georgia Recovers Stolen Crypto Funds from Scam Victim
A Cobb County resident who lost hundreds of thousands of dollars in a cryptocurrency investment scam is getting some of that money back after investigators traced the stolen funds to a crypto exchange.
The victim was scammed out of hundreds of thousands of dollars by someone they met on social media, who introduced them to what appeared to be a legitimate cryptocurrency investment opportunity. The fake platform showed the victim's investment gains and even allowed them to make a small withdrawal, convincing them that the investment was real.
The scam fell apart when the perpetrator told the victim that their money had been lost. However, investigators were able to trace a significant portion of the stolen funds to a cryptocurrency exchange, where they seized the currency and obtained a court order allowing it to be returned to the victim.
Georgia Attorney General Chris Carr announced the recovery, saying 'Our White Collar and Cyber Crime Unit is taking action to address the real and evolving threat of crypto scams. We're shutting down these criminal schemes and, most importantly, we're returning stolen funds to hardworking Georgians.'