A recent victim of Bitcoin scams is 75-year-old Frances Foster from the UK. She lost her life savings of 11,000 pounds sterling when she became tempted by people from the LTC Markets company, allegedly working from Switzerland, to invest in Bitcoin.
According to the BBC report, Frances Foster, from Plymouth, works as a ward clerk in a hospital. She first saw an advert of LTC Markets on the MSN news website. After she first paid 250 pounds sterling, she made more payments until finally losing all of her money. She said someone from the company even called her in December to wish her a “happy Christmas”.
£11,000 will never come back
She tried to find help by contacting her bank and fraud charities, including ActionFraud, but did not help. She has to admit that all her money was gone for good. The Financial Conduct Authority also responded that Bitcoin is an “unregulated product” in the UK.
She said in the interview that her story could help others more carefully before laying their trust in any crypto firm.
MSN owner Microsoft said it was working with its partners and agencies to address the techniques scammers use to deceive people so that the platform can identify, block and remove fraudulent advertisements more effectively. It also reminded that users have to remain vigilant and only engage with brands they trust and recognize.
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