Police recovered $20,000 in a Cryptocurrency Scam

by admin 03/01/2023

written by admin 03/01/2023

MILFORD, CT. (WFSB) – A Milford resident complained to state police in regards to a larceny by false pretenses.

On September 2, the victim lost $41,150 when he deposited money into Bitcoin ATM machines.

They traced the scam back to two major cryptocurrency exchanges in the U.S. and the Cayman Islands.

Police eventually recovered a portion of the Bitcoin from the two exchanges.

Investigators learned that the suspects resided outside of the U.S.

This led to an unlikely arrest at this time.

There was restitution action before Milford Superior Court.

Approximately $23,000 was returned to the victim.