Stolen crypto recovered in Cobb County fraud scheme
COBB COUNTY, Ga. - State cybercrime investigators seized and returned stolen cryptocurrency to a victim of an investment scam in Cobb County.
What we know:
Georgia Attorney General Chris Carr announced Aug. 25 that the White Collar and Cyber Crime Unit seized and returned cryptocurrency to a victim of an investment scam in Cobb County.
A scammer contacted the victim on social media, claiming to share mutual acquaintances.
The fraudster eventually introduced the victim to an investment opportunity on a fake crypto trading platform.
The platform displayed fake returns and allowed a modest withdrawal, building trust.
After the victim deposited hundreds of thousands of dollars, the platform indicated all funds were lost, and the perpetrator claimed the investment had vanished.
The Georgia Bureau of Investigation, working alongside Operation Shamrock, traced a significant portion of the victim’s money to a crypto exchange.
Carr’s White Collar and Cyber Crime Unit and the Investigations Section secured a court order to return the stolen cryptocurrency.
A week prior, Carr announced the seizure and return of cryptocurrency to elderly fraud victims in Oconee County.
Those victims were targeted through a fake bank-breach alert and tricked into depositing money into a cryptocurrency kiosk by a scammer impersonating the Federal Trade Commission.
What we don't know:
Authorities have not named the victim or the perpetrator involved in the scam.
Officials have not disclosed the exact monetary value of the cryptocurrency returned to the victim.
Law enforcement agencies have not released details regarding potential criminal charges or arrests in the ongoing case.
What you can do:
Georgia officials advise anyone who sends cryptocurrency to a scammer to immediately report the crime with detailed information to local law enforcement.
Reports can also be submitted to Operation Shamrock at operationshamrock.org, the FBI Internet Crime Complaint Center at IC3.gov and the FTC at reportfraud.ftc.gov.
A state law signed by Gov. Brian Kemp on July 1 requires virtual currency kiosks to display warnings informing users that transaction losses due to fraud may be irreversible.
The Federal Trade Commission reminds the public that no legitimate business or government agency will demand payment in cryptocurrency in advance or contact people to move money out of bank accounts.
The Source: The information in this story was gathered from Georgia Attorney General Chris Carr, who detailed the cryptocurrency recovery efforts in an official news release, as well as GBI Director Chris Hosey and guidance provided by the Federal Trade Commission.