Thieves Buy Cryptocurrency Using Fake Money from Millionaire

Karan Balwani

August 21, 2018 5:26 pm

Crypto Scam

Thieves Buy Cryptocurrency Using Fake Money from Millionaire
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It seems that the cryptocurrency scams Don’t seem to be slowing down. Another Bitcoin millionaire was scammed recently. The businessman based out of South Korea was offered a deal to exchange his Bitcoin holdings worth $2.3 million in exchange for cash. The millionaire later found out that the currency was counterfeit.

The deal took place in French Riviera in the town of Nice, France. The victim runs a successful multi-million dollar business in Singapore. The scam was carried out by a Serbian man and his partner in crime. 

The police have stated that the Serbian man and his partner had invited the millionaire to a luxury hotel room to discuss a business investment. The duo promised the owner to reimburse him in Euros.

Soon after the deal was completed, the millionaire found out that the currency he was given turned out to be fake. The €500 notes that were given were made using Adobe Photoshop. With no option in sight, the business decided to report the crime to the police.

One of the culprits was found in Cannes wearing a $110,000 watch. He was seen driving a luxury sports car. He was taken into custody by the local police on the charges of fraud. His accomplice is yet to be captured.

It ’s a lesson which has been taught in movies and children’s stories over the years. That is to check the money before executing the deal.

In a similar incident, a Finnish millionaire was scammed by international thieves who talked him into investing $35 million as an investment in a casino. The victim realized that he was being tricked when he did not get the promised Return on Investment (ROI).

The €500 note that was used to scam the Korean businessman is on its way to discontinuation. The European Central Bank announced back in 2016 that it is planning to stop printing the currency denomination as it can be used to promote illegal activities.

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