Australian police say cryptocurrency scams have 'exploded' during the pandemic. These three families were sucked in.
Adam's bank even tried to stop him transferring deposits to his cryptocurrency accounts."He told me 'you have to be tough, banks don't want to release the money, they don't want you to deal with cryptocurrencies'."
At times his balance skyrocketed into the millions through a combination of investing and bonus money offered by the company, but Adam was never able to withdraw the money.Adam's fake holding dipped so much he was convinced to invest more money to get it back.Adam's manipulated account showed that he'd lost millions from his balance, and he was told his balance was too low to keep trading.
"You say 'OK, why did I do it?' When you're losing such big [amounts of] money, it's an advantage for them because they can control you, because in your head you're saying you want your money back." "Once we have that evidence in a presentable format, we will go to law enforcement in multiple countries and we will have those people arrested."Some scammers are targeting vulnerable Australians — people who don't even know they've put money into the platform.Melanie was cold called from someone claiming to be from her bank.
Her brother immediately brought up his sister's bank statements and saw a number of curious transactions.Sean went through her emails and worked out that a cryptocurrency account through Australian-owned company CoinSpot had been established in Mel's name.
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