Investors report a Craigslist cryptocurrency fraud in San Antonio

On Wednesday, a San Antonio police department criminal investigation division spokesperson told local news the department was investigating a Craigslist-based cryptocurrency scam in San Antonio involving a Bitcoin address. The police division spokesperson said Wednesday that the investigation began when a victim’s Coinbase account was hacked and $40,000 of Bitcoin was stolen on July 7. The victim told the police that the Bitcoin was sent to the Craigslist address, which was later determined to be a scam.

In the world of cryptocurrency, there are few things more tragic and chilling than when investors’ money is stolen in a transaction. It is a nightmare no one wants to wake up to, and the fact that it happened to a San Antonio buyer this week only adds to the sense of dread.

According to a recent report, a San Antonio-based cryptocurrency investor has lost more than $100,000 in an alleged Craigslist crypto auction fraud. The reported victim contacted the San Antonio Police Department to report the suspicious and fake Craigslist ads he found on the web and through post. The investor explained that he used a tool called “Craigslist” to find an illegal Craigslist sale of a digital currency called bitcoin. The investor placed a bid on the currency, but when negotiations failed, the victim contacted Craigslist to report the suspicious ad. The investor said that the seller did not respond, and that he then filed a police report.. Read more about bitcoin scammer list 2020 and let us know what you think.

Summary of the situation

– Keye Midas Wealth Management has launched a massive cryptocurrency scam in San Antonio.
– Cryptocurrency fraud has increased since the pandemic.

A new Craigslist scam has hit small investors in San Antonio, posing as a well-known financial services company. The decision was announced by the Texas Securities and Exchange Commission in an emergency cease-and-desist order.

In the past year, known identity theft scams targeting cryptocurrencies have become widespread. Chief Compliance Officer Joe Rotunda believes this is due to the increasing number of retailers focusing on cryptocurrencies.

The council accuses financial group Keye Midas Wealth Management of promising a risk-free business model. Crypto-currency fraud occurs when a group of fans offers 40% profit per month to join their system.

Cryptocurrency Fraud Keye Midas Wealth Management Group

announced a financing plan through Craigslist in San Antonio. However, the agent posed as an Ark Invest representative to gain credibility. Today Ark Invest is valued at $22 billion; the company has done incredibly well on Wall Street.

Although the official website of Keye Midas Wealth Management states that it is a Delaware-based domestic investment firm, this is a scam. This company has no marketing materials, let alone a physical representative that an investor could contact.

Crypto-currency fraud is on the rise

The Rotunda Foundation believes that technological improvements in recent years have fueled these cryptocurrency scams. Scammers can create trustworthy financial websites.

However, the foundation also believes that as the Covid 19 pandemic increases, so does cryptocurrency fraud. People see cryptocurrencies as a lucrative investment vehicle that no one should miss. But just as there are reliable financial companies, there are also fraudulent sites.

Midas’ key statements are a level of fraud that many investors face. Just because you read ads that say you are earning over 40% on your investment each month is fraud.

The Virtual Fraud Council has accused Keye Midas of illegally soliciting investments in cryptocurrencies. All vacancies at Excelsior, Great Mogul, Regent and Idol’s Eye confirm this claim. According to the order, this company promised cashback plans on an 80% investment in monthly installments.

Police are looking for scammers and businesses associated with Key Midas. Although police have not yet found the scammers, small investors in San Antonio have already been warned.The largest cryptocurrency exchange in South Korea, Bithumb, has lost out $31 million in virtual currency due to a fraud that took place on the online classified service, Craigslist. The fraudsters reportedly created a fraudulent ad on Craigslist, enticing investors to send money to a buyer in exchange for a cryptocurrency, such as bitcoin or Ethereum.. Read more about bureaux crypto review and let us know what you think.

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