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Bitcoin Fraudster Duped Italian Investors out of $300,000 in Gold & Crypto

Bitcoin Fraudster Duped Italian Investors out of $300,000 in Gold & Crypto (Identity Theft, Fraud, Scams)

A bitcoin scammer took advantage of Italy's economic crisis to dupe investors out of $300,000 worth of gold and cryptocurrency. Gold and bitcoins worth of hundreds of thousands of euros are the spoils of an elaborate online fraud discovered by the postal police in Liguria, Italy. Local sources reported that the Italian authorities recently arrested a Genoa-based computer expert who entangled his victims by exploiting encrypted communication channels and false identities found on the darknet. The swindler allegedly promised victims a secure investment in bitcoin via gold and cash deposits. Interestingly, the police caught him when he was withdrawing a package containing gold sent by one of his last victims. They also seized 58 bitcoins, which equals €200,000 ($230,000) at press time, and 2 kilograms of gold, in total worth around €270,000 ($300,000).

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