Case studies processed by Crypto Sentry Recovery:
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Aaron: A San Diego client who was involved in a big butchering scam.
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Adam: An Ontario client who was involved in a fake online investment scheme.
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Alex: A Perth client who was involved in a fake online investment scheme.
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Rachel: A North Carolina client who was involved in a Con-Kosher scam ( open for other name suggestions here)
*All names are disguised to protect client privacy, and some information was slightly altered to maintain client confidentiality.
1. Aaron: A San Diego client who was involved in a big butchering scam.
Introduction to Aarons’ case:
Client Testimonial: A Cautionary Tale of Crypto Misfortune:
An irresistible woman named Chen Wei contacted our client through Twitter, claiming to be involved in private crypto investment and asserting that she is doing very well. The client, who is unfamiliar with the new follower, mentioned she is from a wealthy Singapore family and now enjoying life in NYC. A total of $200,000 USD was transferred in less than 2 months via Crypto.com to a stinger crypto wallet. The client attempted to withdraw funds from the dummy platform he was given access to but faced difficulties. Initially, a small amount was withdrawn to build trust, he recalls. The stinger supposedly invested in a partnership with the client to build more trust. The stinger shared her passport and legal documents when Aaron seemed hesitant. She kept sending beautiful personal photos of herself with her pets, etc. Stinger even shared her face in a short video for less than 5 seconds, apologizing afterward because her ex surprised her at home (they share custody of the pets). When the client wouldn’t play along, she stopped communication. The client sought help from the FBI, who estimated a 6-8 week response time—a significant delay in the fast-paced crypto environment.
The Journey to Recovery: Lionsgate’s Intervention:
Upon reading a Forbes article about Crypto Sentry Recovery’s involvement in blocking Hamas crypto, the client felt secure reaching out to the company for professional advice. Crypto Sentry Recovery comprises three departments: blockchain analysis, cyber intelligence, and AML/fraud. With the highest success rate in recovering crypto scams totaling 53.5 billion USD annually, the company conducts comprehensive blockchain analyses for each case. These analyses reveal transaction patterns and provide transparent indications of the likelihood of recovery.
Results and Reflections:
Lionsgate’s analysis revealed that the client’s funds ended up in an account with over 10 million USD, indicating organized crime. The tracing depicted the embezzlers’ attempts to disguise their traces, but these efforts proved futile.
Conclusion:
The USA is currently heavily targeted by sources that appear to be of Asian origin. The scams exploit openness to new opportunities, with a gradual lure that begins softly and turns deadly. California and South Carolina are the most targeted states.
2. Adam: An Ontario client who was involved in a fake online investment scheme
Introduction to Adam’s case:
Adam, a lawyer hailing from Ontario, Canada, alongside his wife Mary, had diligently invested their life savings to combat the rising prices. Their journey began when Adam, perturbed by the lack of financial security amidst inflation, sought ways to bolster their finances. Despite reaching out to the authorities for assistance, he found himself met with indifference.
Undeterred, Adam pursued his quest for justice by filing a report with CAFC Fraud and Cyber Crime. Eventually, their pursuit led them to Crypto Sentry Recovery, where they uncovered a startling revelation: their hard-earned funds, exceeding $150 million USD, lay dormant within a crypto wallet affiliated with Binance.
However, the stark reality remained that without the aid of law enforcement, the funds could not be frozen or seized. This unfortunate turn of events highlighted the incompetence of the legal system in safeguarding citizens’ assets.
Adam, a seasoned lawyer from Ontario, Canada, and his wife Mary, decided to invest their life savings to counter the rising costs. As a lawyer, Adam was well aware of the importance of financial security, especially in the face of inflation. Concerned about the escalating prices, he approached the police for assistance, only to be met with little cooperation.
Frustrated by the lack of support, Adam took matters into his own hands and filed a report with CAFC Fraud and Cyber Crime. Their pursuit led them to Crypto Sentry Recovery, where they made a shocking discovery: their funds, totaling over $150 million USD, were stashed in a crypto wallet linked to Binance.
Despite this revelation, the couple found themselves at a standstill. The authorities’ reluctance to intervene meant that their hard-earned money remained beyond reach, underscoring the inefficiency of law enforcement in tackling financial crimes.
3. Alex: A Perth client who was involved in a fake online investment scheme
Introduction to Alex’s case:
Client Testimonial:
I’m Alex, a retired Aussie banker in my early 40s. These days, dealing with rising inflation in AU and the soaring cost of living isn’t easy. So, when a $250 USD bonus ad popped up on Facebook, it seemed like a godsend. Little did I know, the devil was lurking behind it.
“After leaving my info with the ad, Ben, a self-proclaimed professional trader, rang me up within the hour. He promised to guide me through investment stocks and the intricacies of market volatility. Initially, our discussions revolved around my financial background, including my accounts with Commonwealth Bank and credit card holdings. Looking back, it was probably a tactic for scammers to gauge my financial standing.
Our conversations soon shifted to goals, and I remember mentioning that I wanted to maximize returns. Ben found this amusing, laughing out loud at my ambition. To qualify for the $250 USD bonus, I had to invest $250 from my own pocket. It felt like a partnership, so I took the plunge. I was asked to send that amount in crypto, which I had never done before. Ben was super helpful.
Our first trade yielded a 12% profit in less than 10 minutes. Ben attributed our success to luck, cautioning that such returns weren’t typical. He then proposed more sessions and hinted at a VIP program, requiring a hefty $10,000 AUD deposit. Testing the waters, I successfully withdrew funds, leading me to believe in the platform’s legitimacy.
Excited by the prospect of financial gain, I confided in my wife, but we agreed to keep the venture from our children, fearing they might discourage us. I deposited the $10,000 without hesitation, fueled by the promise of even greater returns.
As time passed, I poured in more money, totaling $300,000 AUD, including loans from the bank and my pension. Ben’s warnings about market volatility lingered in the back of my mind, but I remained optimistic.
Then came the blow—a high-risk trade wiped out our entire portfolio, amounting to $800,000 USD. It was only then that I realized I had been deceived. Ben stopped answering my emails.
The allure of easy money blinded me to the risks, and now I’m left grappling with the consequences of my naivety.
The Fake Recovery Episode:
I got an email from “Sandra” , a success manager, just two weeks after from a recovery firm stating they have found my money, and traced my details. I only need to pay the tax to release the funds, a total of 35K AUD. After consultation I decided to go ahead with this. I had no choice because there was a lot of money on the table. After the money was sent I never heard back from them. I felt like a gambler and I’m not.”
The Journey to Recovery: Lionsgate’s Intervention:
Only after I read very similar shares by other investors on Reddit I decided to look for a solution. I started speaking to recovery companies and finally I reached out to LNG who sent me to fill out a quick questionnaire. I then got an email for a 1-1 video conference with an analyst. That was a sign in the right direction as I understood from the Reddit rooms a lot of companies scam their own clients with fake recovery services. During the conference call I shared some key details so that a comprehensive analysis will be conducted. According to the report I will know if my case is eligible for a recovery or not. I was anxious for transparency in my case.
Results and Reflections:
Lionsgate’s analysis revealed that the client’s funds which were invested with a semi-regulated trading company, had a redemption program that was forced on the company, and they were also able to trade the fake recovery entity in less than 5 days.
Conclusion:
If you lose your funds with a dummy trading platform, it can happen. But you don’t have to gamble with a recovery solution.
4. Rachel: A North Carolina client who was involved in a Con-Kosher scam ( open for other name suggestions here)
Introduction to Rachel’s case:
The overall concept of the operation in this event bears resemblance to other scams, yet it diverges significantly in one aspect: its motivation stems from ideology rather than solely from a profit-driven agenda.
Similar to the devious process of the Nazis’ looting, investors’ funds are funneled into savings accounts and are only accessible to depositors in small, limited amounts, so the invested sum is very close to being frozen.
As part of the investor’s ordeal, the defrauded investor learns about the maximum economic capability of the investor. Another tactic is sudden tax claims when the investor seeks to withdraw his funds from the account. These tax claims often amount to around 30 percent of the investment, which could reach hundreds of thousands of dollars. When the investor finds a way to access these funds and fully realize his maximum potential, the looter disconnects and leaves the investor empty-handed.
But that’s not the end; at this point, a subsidiary company of the looter’s company steps in disguised as a recovery service armed with very convincing details. Despite the infinite persuasion skills of the swindlers, they will never do one thing – they will never reveal their faces in a prolonged video call, as there are tools to fake short video calls since the rendering time for continuous video is still a technology not available to most. The representative of the “rehabilitation company” for the investors’ funds will seemingly present convincing evidence and promise to return the funds or say that they have unblocked the funds and now they can be transferred to the investor after he pays a profit tax or a service fee or any other excuse. Once “tax” is paid the looter disappears.
Similarities and Differences:
- While most clients come to terms with being scammed, there are some who remain unaware due to the sophisticated and “professional” handling of their cases.
- While the majority of clients are unaware of recovery services, there are instances where clients have encountered fake recovery services, compounding their losses.
- Most clients opt to report their cases to the police, yet there are some who refrain from doing so, often due to a lack of transparency with their loved ones.
- A common belief among clients is that once crypto is lost, it cannot be recovered. However, there are those who understand that tracing and recovery are possible.
- Recovery outcomes vary; some cases are easily recovered while others have a low probability of success.
- The financial stakes involved also vary significantly; some cases involve hundreds of dollars while others exceed $1 million USD.
- Unfortunately, law enforcement agencies in many countries around the world are generally unhelpful in blocking crypto funds of victims, further complicating the recovery process.
- Some are targeted for profit and some based on ideology
“Mother’s Day Scam: A Personal Account”
As Mother’s Day approached in the UK, families across the nation anticipated a day of love and celebration. Among them was Mary, a devoted mother hailing from an affluent region outside London, eager to mark the occasion with her loved ones.
Little did Mary know, she was about to become ensnared in a web of deception crafted by a group of fraudsters, exploiting the sentiments of the holiday for their own gain. The operation mirrored known scams, diverting Mary’s hard-earned funds into inaccessible savings accounts, leaving her investments virtually frozen. It all began when she innocently clicked on an ad inviting her to make extra income by investing in cryptocurrencies and stocks, of which she knew little. Starting with as little as 250 USD, she embarked on a journey where she would “invest” over 70k pounds in less than 30 days.
When she sought to access her money, she encountered unexpected tax claims, draining a significant portion of her savings. Despite her efforts to recover what was rightfully hers, Mary found herself confronting empty promises and disappearing perpetrators, leaving her feeling betrayed and vulnerable. Her disappointment peaked when law enforcement in Weybridge informed her that without evidence, they couldn’t take action.
In the midst of her turmoil, a subsidiary company emerged, offering false hope of recovery while demanding additional payments under various pretexts. Struggling to navigate the complexities of the situation, Mary found herself grappling with the harsh reality of financial exploitation, which strained her relationships with her family members.
Despite her best efforts to seek justice and reclaim her losses, Mary discovered that law enforcement agencies were largely ineffective in blocking crypto funds, compounding her frustration and despair. It wasn’t until the Crypto Sentry Recovery team provided evidence of where her money was and who was involved that law enforcement began to act, bringing the case closer to resolution.
Mary’s experience serves as a poignant reminder of the ever-present threat of financial exploitation, even during moments of celebration and joy. Her story underscores the importance of vigilance and awareness, and the need for robust safeguards to protect individuals like her from falling victim to such deceptive schemes.
Title: Crypto Embezzlement Ravages Canadians
Meet Lauren, a lawyer in his 60s, and his wife. Witnessing inflation skyrocketing, they vividly recall purchasing a gallon of milk for 10 cents, now priced at 20 times that amount. So, when they stumbled upon a social media advertisement promising incredible profits, they seized the opportunity, forever altering their lives in October 2023.
Lured by the promise of easy retirement and newfound freedom, they decided to invest as little as $250 USD, despite their lack of knowledge about crypto. “But we know nothing about crypto,” they protested. To this, Rona, the salesperson, reassured them, “Thank God you don’t need to. We manage the account for you.”
It seemed too good to be true, yet they proceeded. The website appeared professional, with a seemingly legitimate company address. Moreover, Trustpilot, a review website, boasted their impressive 4.9 rating. “Incredible,” they thought.
Lauren and Merry (alias names, real names are with Crypto Sentry Recovery) were instructed to open a Newton account, a popular Canadian crypto exchange, in order to exchange CAD to Bitcoin to then send it to the company. Their account was handled by so-called experienced analysts, and all they had to do was watch their money grow. In just a few days, their initial $250 had ballooned to $330, showcasing profits that could potentially reach 100% over a month, just as Rona had promised. The couple was able to withdraw some of the profits directly to their bank account, which further convinced them of the legitimacy of the investment. They were psychologically manipulated to keep funneling more money into their account, taking significant loans from the bank and maxing out their credit cards to fund their “investment portfolio.” When they attempted to withdraw a substantial amount, they were informed they needed to pay a $50,000 CAD tax, which they borrowed from friends and promptly sent. However, immediately after this transaction, their account was closed, and communication with the company ceased, claiming losses on a bad trade.
Little did they know, their money was never actually traded, and the over $330,000 CAD they transferred had vanished into thin air. They had been trading on a dummy platform, manipulated to display the numbers the scammers wanted. Their biggest disappointment came from local law enforcement, who claimed they couldn’t pursue crypto crimes as it was “not real money.” Research revealed that every tenth person in Canada between the ages of 45-60 had been targeted in a massive operation, with law enforcement largely silent about one of the biggest financial assaults on Canada.
A week later, they were contacted by a fake crypto recovery service, another arm of the fake trading platform. At this point, the couple refused to play along, but they realized they needed assistance. They came across Crypto Sentry Recovery, a blockchain analysis company from Israel specializing in blocking and freezing crypto funds of organized crime and terror groups. The company revealed to the couple that Canada was one of the most targeted countries due to the trusting nature of its people and the lack of cooperation from law enforcement, creating a haven for embezzlers worldwide.
In less than 72 hours, Crypto Sentry Recovery provided the Ottawa police detective, who was on the case, with the clear-cut evidence needed in an analysis report pinpointing where their money was on blockchain and the evidence needed to freeze it, preventing the scammers from accessing it. Thanks to Crypto Sentry Recovery’s collaboration with local police, the case is now nearing pending approval to obtain a court seizing order to rectify the wrong and return the Canadian couple’s money who are expecting to receive it in around a month’s time and put this horrific financial experience behind them.
