Crypto Investor Loses $200,000 USD as New Zealand Police Warn of Online Scams

After Investor Loses $200,000 USD, New Zealand Police Warns of Online Crypto Scams

The New Zealand police have recently warned the citizens of the country that online crypto scams are making investors lose a lot of money. In a recent case, an unnamed investor who made multiple investments in crypto schemes that turned out to be fraudulent lost $320,000 NZD (about $213,000 USD).

According to the police, the investor was attracted by the extremely good return on investment offered by the scams, which did not mention what kind of operation was involved to actually create these returns. As the price of Bitcoin started to decline, the investors stopped to make money and the scammer went to them personally asking for more funds. They gave it and lost it all.

The police affirm that the public should be very wary of this type of scam and that they should never invest in any kind of deal that they are not completely sure that it is legal and secure. According to them, scammers can be very persistent and even seen credible at times, as they are highly versed in their trade, so the investors should be cautious.

Scammers Everywhere

Regulators from all over the world are concerned with scammers and have been making a huge effort to find these manipulators and block them for taking advantage of early-level investors. It is because of these people that the blockchain and crypto community has such a bad image around the world, as many regulators need to block the whole market in order to avoid these scammers from proliferating.

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