Lincoln Police say a man lost more than $300-thousand in a cryptocurrency trading scam. Sergeant Chris Vollmer says the 56 year old man had began communicating with an unknown person in December.
“The unknown caller encouraged the victim to join a group message on Telegram for crypto currency trading. The victim completed some trades and made a return,” Vollmer says.
“The victim was encouraged to up his investment to increase his return. The victim invested $300,000 and received notice his account was under audit.”
Vollmer says the controllers of the group advised the man he could unlock the account with additional funds and $50,000 was added. The victim told police he was further advised he needed to invest additional money and told officers he believed he was being scammed.
The total loss is $350,000 and the investigation is ongoing.