British Couple Loses £80,000 in Cryptocurrency Scam Involving Financial Expert Martin Lewis
In a shocking case of cryptocurrency fraud, a British couple has reportedly lost £80,000 (approximately $100,000) to a scam that involved financial expert Martin Lewis. Martin Lewis is a well-known figure in the UK, recognized for his expertise in consumer finance, journalism, and television.
Lewis is the founder of MoneySavingExpert.com, a website that provides financial advice and money-saving tips. He frequently appears on television shows and radio broadcasts, known for advocating financial education and consumer protection.
According to an article published on April 23, 2023, on the UK-based financial website This Is Money, Barbara and Ewan Atkins have become victims of a fraudster who has been confirmed by Martin Lewis. The fraudster convinced the couple to invest in Bitcoin through a series of transactions using FinTech platforms Revolut, Wise, and Binance. In the guise of an investment manager, the fraudster instructed the couple to set up an account. The couple carried out 14 transactions ranging from £3,000 to £5,000, with their “investment” purportedly doubling in value in four weeks.
However, when the couple tried to withdraw their money, they were asked to pay £10,000 for tax, and only then did they realize they had been scammed. Their daughter and son-in-law reported the fraud to the bank, but both Barclays and Revolut refused to refund the lost funds.
Barclays claimed that they had warned them about the payments and made calls to confirm the transactions. Similarly, Revolut refused to compensate them for the loss.
Martin Lewis’ website, MoneySavingExpert.com, as well as Barclays and Revolut, have urged consumers to be vigilant and conduct thorough research before investing. This incident highlights the dangers of investing in cryptocurrencies, particularly when dealing with unregulated platforms and individuals.
Cryptocurrency fraud is on the rise, and consumers must exercise caution and conduct due diligence before investing their money. As scams become more sophisticated, it is essential to seek advice from trusted experts, avoid unsolicited investment opportunities, and use regulated platforms when investing in cryptocurrencies.
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