A 64-year-old East Allen Township man fell victim to a cryptocurrency scam that bilked him out of $60,000, state police said.
Pennsylvania State Police in Bethlehem said the man reported the incident on June 5. Investigators say the scheme involved the victim becoming involved in an investment group on an online app. The group offered members the chance to trade cryptocurrency options, police said.
The victim then invested $60,000 into what he thought was a legitimate investment platform, according to police. The phony platform began offering the victim a variety of investment plans, including one-on-one investing with whom they claimed was a legitimate financial adviser, police said.
The victim reported agreeing to pay a commission of the profits earned after contacting whom he thought was an investor. The victim later was duped when the profits became maximized and the victim was notified he had not paid the commission as agreed upon, state police said.
The victim’s accounts eventually were locked and all profits earned became no longer accessible.
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Pamela Sroka-Holzmann may be reached at pholzmann@lehighvalleylive.com.
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