63-year-old loses Pension to Bitcoin investment fraud


TL;DR Breakdown

  • Retired teacher loses pension to Bitcoin scam
  • How not to be a victim of BTC scam

Teresa Jackson, a 63-year-old retired teacher, has unfortunately lost her retirement pension to a Bitcoin investment fraud.

Reportedly, she was conned by a mystery financial advisor who persuaded her to stake $165,000 in a Bitcoin investment fraud she came across on Instagram.

After she came across the Instagram ad, she began contemplating if or if not to invest in it according to Action Fraud and Citizen advise that used her case to warn others.

Teresa got convinced about the Bitcoin investment fraud after a financial investor with outstanding Bitcoin knowledge got in touch with her.

The anonymous man supposedly sounded very thrust-worthy and persuaded Jackson to invest $165,000, which was actually her pension pot and life savings.

Not long after she staked her pension and savings in the scheme, she tried to reach the advisor again, only for him to be inaccessible. Meanwhile, her funds were also irreversible at that point.

She was disguised and very sad. ”I felt embarrassed and stupid. My family trusted me to know what I was doing. I am on Universal Credit now, simple as that. I’m comfortable, but I can’t have the life I used to have, she said.

However, after losing her money, she got half back from her bank after reporting what happened to them. The institution failed to pay her in full because she transferred the cash herself.

How to not be a victim of similar Bitcoin investment fraud

Authorities in the Uk have cautioned about dangers involved in crypto investment, weather mining, or trading.

A leading reporting center for cybercrime revealed that intimidators advertise through social media tempting investments but, in the end, steal the money of the victims.

According to Action Fraud, they advised that investors should doubt all investment opportunities and not rush to make investment decisions to stay off Bitcoin investment fraud.

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Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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