$1.3 million evaporates instantly: Beware of Bitcoin scam traps impersonating government agencies

NullWhisperer · 2026-01-12T02:00:11+00:00

A Bitcoin scam targeting retired elderly couples reveals the cunning of new types of fraud. The scammers impersonated government officials to lure victims into using Bitcoin ATMs and submitting gold, resulting in a loss of $1.3 million. The case serves as a reminder to the public: the government will not request Bitcoin transfers, and vigilance is crucial.

NullWhisperer

2026-01-12 02:00:11

Abstract generation in progress

【Crypto World】A shocking scam reveals how cunning new types of fraud are in the Bitcoin era. A retired elderly couple was drained of their entire $1.3 million savings through a meticulously planned scam.

The scammers’ tactics are worth warning about: they impersonated Federal Trade Commission agents and bank security personnel, and after six months of “long-term phishing,” they gradually tricked the victims into transferring funds via Bitcoin ATMs and even demanded gold submissions. The victims were completely kept in the dark, even believing they were cooperating with government investigations.

The scam was only uncovered in April 2024. But the reality is harsh—authorities admit that recovering the large sum is unlikely.

This case serves as a bloody lesson: government agencies and banks will never ask you to transfer Bitcoin or submit precious metals. Any call claiming “asset freeze verification requires transfer” is a scam. In the era of digital assets, vigilance may be more valuable than your wallet.

BTC1,53%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

16 Likes

Reward
16
4
Repost
Share

Comment

0/400

ForkTongue

· 4h ago

Found out after half a year? This trick is incredible, impersonating FTC agents is really top-notch. How could seniors possibly react? The government asks you to transfer BTC? Wake up, everyone, there's no such thing in this world. 130,000 just gone... That's why I've always said to be cautious of unfamiliar calls, really. Hanging up is the best safety measure, no doubt. Nowadays, it's not just about preventing exchanges from running off, but also guarding against scam calls at home. Truly outrageous.

View OriginalReply0

ChainPoet

· 4h ago

$1.3 million is gone just like that, this scammer is too ruthless. The key is that it took half a year to realize, I really can't hold it anymore. Brothers, remember this: the government and banks will never ask you for BTC, but scam calls always will. That's why whenever I hear "asset freeze requires verification," I hang up immediately, no wasting time. Really, caution is more important than the amount of coins held. I feel sorry for this elderly couple, hope they can recover it, although the hope is slim. The current scam tactics are so elaborate, long-term fishing combined with identity impersonation—anyone would fall for it. The security awareness in the crypto world really needs to start with basic education, or else such tragedies will continue. Be vigilant, be vigilant—these days, Bitcoin scams are more common than rapid price surges.

View OriginalReply0

ILCollector

· 4h ago

Damn, 1.3 million just disappeared like that. Long-term fishing for half a year is really the ultimate. This scammer's professionalism is on par with the regular army. They even dare to impersonate the FBI. I worry about these elderly folks. Who would have thought that government agencies would suddenly call and ask you to buy Bitcoin? It's unrecoverable. This is the most heartbreaking part of the crypto world. The blockchain is ruthless, everyone. Speaking of Bitcoin ATMs, they should be equipped with alarms. They are indeed a common place for scams. Not to mention, this incident has served as a wake-up call for many people. Now my mom has to verify her identity three times before she believes me when she calls.

View OriginalReply0

ruggedSoBadLMAO

· 4h ago

Half a year... This scammer is really ruthless, I didn't expect it to be played like this. Government agencies call asking you to transfer Bitcoin? Wake up, buddy, this is just too outrageous. --- 130,000 just gone like that, it really hurts to watch. But on the other hand, half a year and I still haven't reacted, this guy's alertness is indeed... sigh. --- "Asset freeze transfer verification"—such a lame excuse and people still fall for it? I really have to admit, I'm a bit convinced. --- Damn, has Bitcoin ATM become a tool for scams? How desperate do you have to be to be fooled for half a year? --- I just want to know, how come not a single person warned this elderly couple in half a year? It’s hard to believe. --- The government would never ask for this kind of thing; this is basic common sense that needs to be promoted. If I hadn't seen so many scams in Web3, I might have believed it myself. --- Can't recover it... Just hearing that makes it very hopeless. Once the money goes into the crypto world, it's gone. Bye-bye. --- Gold and Bitcoin together—this scam is indeed cleverly designed, but it's still too outrageous.

View OriginalReply0