Police: Troy residents scammed out of $44K through fake Bitcoin transactions – The Oakland Press

Some Troy residents recently fell prey to rip-off artists offering large profits trading Bitcoin, and lost nearly $44,000 in the scam, police said.
According to the Troy Police Department, the victims were contacted through WhatsApp and Telegram about trading Bitcoin, and subsequently deposited $43,944 through several transactions to Bitcoin websites over a 6-week period in November and December 2021.
Bitcoin is digital money or “cryptocurrency” with no central bank or single administrator. Bitcoin can be exchanged for products, services and other currency.
The victims reportedly thought they were profiting from their investments, but when they tried to access their funds ran into a roadblock: They were told their accounts were frozen until they paid a 13 percent service fee. At that point, they realized they’d been scammed, police said.
Besides contacting the Troy Police Department,the victims filed a complaint with the FBI Internet Crime Complaint Center, police said.
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