$1.5 million fraud on blockchain from crypto investor

There has been an increase in scams involving cryptocurrencies in the past few months. In a similar case, a Qatar-based man has claimed that around $1.5 million worth of cryptocurrency was stolen from his digital wallets and sent to an account linked to a crypto exchange. In this case the largest cryptocurrency by market capitalization Bitcoin and some other tokens have been stolen.

According to a New York Post report, Niall Leonard was found to have stolen cryptocurrencies from his digital wallets about two months ago. He hired a financial intelligence firm to investigate it. The firm found that the stolen funds were transferred to an account in the US linked to crypto firm Paxful Holdings. Paxful Holdings refused to disclose the identity of the account holder without a court order. After this, this case has been filed in the court.

Paxful Holdings said that it is helping in the investigation of this matter under US law. The firm facilitates the buying and selling of bitcoins. A large number of crypto holders in the US are being targeted by scammers. Cases of scamming low-income crypto investors with the allure of romance are on the rise in the US. Most of the victims in such cases are in the age group of 20-40 years.

In this regard, a report by BanklessTimes states that crypto investors in the US have lost about $ 185 million in such cases from the beginning of last year to March this year. In addition, these investors have lost more than $1 billion in other fraud cases. BanklessTimes CEO Jonathan Merry said, “Investors are suffering because of romance. Their quest for romance makes them a target for fraudsters. This attraction is such that it makes a lot of people victims.” and they suffer great loss till they come to know the reality.”

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