Fraud in the Kelheim district: 68-year-old loses assets in Bitcoin deal!

Fraud in the Kelheim district: 68-year-old loses assets in Bitcoin deal!

A 68-year-old from the Kelheim district lost his entire savings due to a perfidious investment scam. He was approached via a social media platform by a stranger who suggested trading Bitcoins. The man, presumably convinced that he could do a good deal, gave his consent and contacted the perpetrator. He downloaded two apps that were presented to him as a means of investing. He did business with fake Bitcoins for almost half a year and was repeatedly pressured to transfer large amounts of money. In total, he lost an incredible 164,000 euros.

The story becomes particularly tragic when the person concerned even pawned his car worth around 19,000 euros in order to be able to continue investing. When he ultimately ran out of money and wanted to withdraw his alleged Bitcoins, he was informed that he would have to pay a processing fee of five percent, which is approximately $255,000, to make the withdrawal. To pay for this, he paid a deposit of around 23,500 euros. But when he finally realized he had been cheated and wouldn't get any money back, he filed a police report on December 30. The PI Mainburg has already started investigations to get to the bottom of these fraudulent activities.

Be careful with crypto investments

The 68-year-old's sad story is by no means an isolated one. More and more people are currently falling for the scams of dubious online brokers and fake crypto platforms. They like to circumvent German regulatory authorities and often operate from abroad. The Federal Financial Supervisory Authority (BaFin) warns urgently about the risks of crypto trading: The providers often do not have licenses and deceive their victims, for example through false financial advisors and fake websites.

Another example of fraudulent strategies is exaggerated promises of profits and pressure to make additional payments. Fraudsters lure people with supposed winnings that never actually existed. As in the case of the victim from Kelheim, this means for many of those affected that their deposits disappear and payouts are refused.

How to protect yourself

The consumer advice center strongly advises caution when trading online. Scammers often use fake logos and try to gain the trust of their victims through personal contact. Potential investors should always find out about providers and check their imprint and availability. Reputable brokers also provide comprehensive information about risks and require confirmation of identity.

How can you recognize these fraudulent platforms? A clear indication is the lack of an entry on the BaFin warning list. Unusual pressure measures or unrealistic promises of profits should also serve as a warning signal. Quick action is crucial for those who have been injured - whether through a criminal complaint or through civil law measures to reclaim the lost funds, which are complicated but possible in many cases.

The story of the man from Kelheim reminds us that quick action and caution are the best defenses against these modern scams. Anyone who has doubts or questions should not be afraid to contact an expert or an advisory center in order to avoid possible damage and, if necessary, to act in good time to get their money back.

You can find more information on this topic in the reports from idowa here, lawyer101 here and the consumer advice center here.