The FBI has issued a public warning about "Ichcoin," a fraudulent cryptocurrency platform that has reportedly defrauded investors across the United States, stealing approximately $30 million since December 2023.
According to a report by ABC13, the FBI's Houston division is actively investigating the scam and working to identify more victims.
Amanda Culver, Assistant Special Agent in Charge at FBI Houston, labeled Ichcoin as a sophisticated fraud that uses fake profiles on social media platforms like Instagram and Facebook to target unsuspecting investors. Scammers engage victims in discussions about cryptocurrency investments and then shift the conversation to WhatsApp for more personalized communication.
Victims are manipulated into making substantial wire transfers to Ichcoin and are often encouraged to provide misleading information to their banks about the nature of these transactions. Ichcoin lures victims into believing they are seeing returns through a deceptive app, but when they attempt to withdraw their funds, they are met with silence and lose access to their money. Many of the victims have reported losing their life savings to this elaborate scam.
The FBI urges anyone who suspects they may have fallen victim to Ichcoin to come forward as the investigation continues.
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