EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

Bulgarian Businessman Loses Half a Million Dollars to Call Center Crypto Fraud

Admin by Admin
February 6, 2023
in Crypto News
0
Crypto Scammers Preying On Elderly Japanese Singletons
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter
MMC MMC

A Bulgarian investor has lost a large amount of money to fraudsters who convinced him he was putting cash into cryptocurrency. The scam operated through a call center in what is becoming an established scheme for extracting money from victims lured with promises of quick profits on stock and crypto markets.

A businessman from Bulgaria has transferred over 1 million leva (more than $550,000) to scammers who suggested he could earn well from crypto assets. He was persuaded by a fake consultant to send the amount to accounts at different banks, from Europe to Hong Kong.

The investor was initially contacted by a call center operated by fraudsters offering high yields on crypto investments. This communication went on for a while and they were able to convince him that he would triple his money in no time. When the man expressed interest in the proposition, he was transferred to an encrypted chat and set up with an online account.

The businessman, whose identity was not revealed by the investigators, was then offered to make a small deposit of €250 which multiplied several times in a few weeks, in virtual assets. Later, he sent tens of thousands of euros to Polish, British, and Chinese banks.

The calls center from which the targeted person got the initial call in this case was most likely located somewhere in the Middle East, Bulgarian officials said. However, the country from which the organizers of the fraudulent scheme operated is yet to be identified.

The scam is part of a recent criminal trend in Europe that entails using call centers to entice unsuspecting victims with non-existent opportunities to invest in shares of famous global companies or cryptocurrencies.

In mid-January, authorities from Bulgaria, Serbia, Cyprus, and Germany, working with Europol and Eurojust, took down a network of call centers that “lured victims into investing large amounts of money into fake cryptocurrency schemes.” In September, last year, the Ukrainian police busted a similar criminal organization defrauding investors across Europe.t

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: Bulgarian businessmanCryptocrypto fraud
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

Crypto Trading Volume Rises By 25.9% Due To Whale Moves

Next Post

FTX Seeks To Recover Political Donations Made By Sam Bankman Fried

Admin

Admin

Next Post
Former Co-lead Engineer Of FTX Charged By SEC

FTX Seeks To Recover Political Donations Made By Sam Bankman Fried

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
Mayowa Owolabi on battles traders need to fight

Battle Every Trader Must Fight (Part 1)- Mayowa Owolabi

August 31, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
EUR/USD pair

EUR/USD Recovers from 20-year Lows

2
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0

Defi (Decentralized Finance)

0
What is Zcash

What is Zcash (ZEC)?

March 20, 2023
World’s Largest Asset Manager BlackRock Is Exploring Tokenization Of Stocks

World’s Largest Asset Manager BlackRock Is Exploring Tokenization Of Stocks

March 20, 2023
Former Coinbase CTO bet on bitcoin

Former Coinbase CTO Bets $1 Million on Bitcoin

March 20, 2023
Gold rallies to peak

Gold Rallies to Over 1-year Peak, Further Beyond $2,000 Mark

March 20, 2023

Recent News

What is Zcash

What is Zcash (ZEC)?

March 20, 2023
World’s Largest Asset Manager BlackRock Is Exploring Tokenization Of Stocks

World’s Largest Asset Manager BlackRock Is Exploring Tokenization Of Stocks

March 20, 2023
Former Coinbase CTO bet on bitcoin

Former Coinbase CTO Bets $1 Million on Bitcoin

March 20, 2023
Gold rallies to peak

Gold Rallies to Over 1-year Peak, Further Beyond $2,000 Mark

March 20, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Review
  • Reviews
  • Stocks
  • Uncategorized

Recent News

What is Zcash

What is Zcash (ZEC)?

March 20, 2023
World’s Largest Asset Manager BlackRock Is Exploring Tokenization Of Stocks

World’s Largest Asset Manager BlackRock Is Exploring Tokenization Of Stocks

March 20, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>