Pa. man loses $60K in cryptocurrency scam, police say

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A 64-year-old East Allen Township man fell victim to a cryptocurrency scam that bilked him out of $60,000, state police said.

Pennsylvania State Police in Bethlehem said the Northampton County man reported the incident on June 5. Investigators say the scheme involved his becoming involved in an investment group on an online app. The group offered members the chance to trade cryptocurrency options, police said.

The victim sent $60,000 for what he thought was a legitimate investment platform, according to police. The phony platform began offering the man a variety of investment plans, including one-on-one investing with whom they claimed was a legitimate financial adviser, police said.

The victim reported agreeing to pay a commission on the profits earned, but then was told he hadn’t done what he’d been told. His accounts eventually were locked and his money became inaccessible, police said.

Pamela Sroka-Holzmann may be reached at pholzmann@lehighvalleylive.com.