Australia – Couple Lose $20K in a Bitcoin Scam
A ‘Too Good to Be True’ investment through a shady trader turns bad, leaving young couple broke and heartbroken.
Nick Yeomans and his wife Josie thought they caught their big break. The couple’s Bitcoin investment garnered great returns, tripling in value in six months. But the trader they have invested their money with, coinexx.org, shattered their dreams and left them penniless.
Nick Yeomans came across the trader through a Facebook page, promising high returns on the investment. Yeomans, sceptical of the mysterious trader at first, decided to invest a small sum of money, expecting it to be a scam, yet hoping his suspicions will be dispelled. The couple’s first, minimal investment, appeared to be more successful than they ever dared to imagine. The $1400 investment made them $3700 in profits within 6 months and the young couple thought they have found their golden ticket.
The couple carried on making investments, which gradually grew over time, closely monitoring the state of their investments on the trader’s site. At the trader’s encouragement, they ended up investing $20,000. The couple was so pleased with the returns, that they overlooked some very fishy behavior from the trader – for instance they noted that their only mean of contact with the trader was through WhatsApp messages – and convinced a beloved family member to start investing through the trader, leading the relative to match the couple’s investment. All seemed promising at that point.
Once they ran out of money to invest, their returns declined and their fees ballooned and the trader placed strict measures in order to ensure that they will be unable to withdraw their money. When asked about the decline in returns, the trader failed to provide them with adequate answers and the couple grew frustrated and concerned. Then, out of the blue, the couple received a worrying message reading:
“Let me save you the stress … Coinexx.org is a scam. Everything and everyone involed are the same. Don’t bother about trying to get back your money. Just focus on getting money to take care of your family”.
Shortly after receiving the message the company, coinexx.org, ceased all communications with the couple. The terrified couple was left with no contact and mounting debts. The Australian authorities are currently out on the hunt for the scammer, but as the Yeomans were the only ones to file a complaint against him, they have limited leads and the odds of finding the perp and bringing him to justice seem to be slim to none.