A cryptocurrency fraudulent scheme in Australia stole the entire life savings of a local resident

Cryptocurrency scam projects continue to steal users’ funds. Recently, the counterfeit cryptocurrency scheme stole hundreds of thousands from the devastated Sydney woman just months before her retirement.

A cryptocurrency counterfeit savings scheme in Australia stole the entire life of a local resident

Reportedly, an Australian nurse Rhonda lost all her savings after being lured into a fake Bitcoin investment. She revealed in a recent interview for 2GB radio how a crypto scam has taken her entire life savings, as a warning to other investors about the red flags she should have been mindful of.

Rhonda, who has worked as a nurse in Sydney for 44 years, was browsing the Internet when she saw an advertisement offering Bitcoin investment using a celebrity endorsement faked by Australian celebrities. She initially invested $350 in the scam, entering her email address and phone number into a brief online form. In addition, the scammers set up a new account for her, where she continued to transfer funds.

Rhonda had some positive returns on her investment when she started investing and communicated well with the people behind the scam. Interestingly, they even advised her to buy a car or something else with some profit, which she never did.

The woman is aiming to earn more and more money. Unfortunately, when checking her account recently, Rhonda noticed that hundreds of thousands of dollars were missing.

Australian officials tried to find the scammers and help Rhonda recover her funds, but were unsuccessful.

The nurse says her retirement plans are now gone but remain positive despite the devastating hoax:

“I always think, there’s probably someone worse off than me. I’m healthy, I’ve got a good attitude to keep going. I’m just taking it one week at a time.”

Following the recent decline of the crypto market, many digital assets are now far from their highs. Bitcoin has lost a large portion of its dollar value in the past few weeks, which caused a huge panic in the community.

Following the tumultuous events, Australian Minister Jane Hume has warned the public about the risks associated with cryptocurrency trading. She said that digital assets are not only risky but also volatile:

“They are volatile and high-risk assets and investors must be aware of these risks.”

On the other hand, Hume emphasizes their future potential and important role in the economy:

“Cryptocurrency is not a fad. It is an asset class that will grow in importance.”

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