An Elyria man lost $400,000 in a cryptocurrency scam, authorities said.
Federal prosecutors in Cleveland asked a judge to sign off on the forfeiture of nearly $1 million in cryptocurrency that authorities believe came from scams and money laundering.CLEVELAND, Ohio — An elderly Elyria man lost more than $400,000 in a cryptocurrency scam in which conmen used crypto giant Tether to launder the money, according to federal prosecutors.
Investigators traced the $408,000 in cryptocurrency stolen from the Elyria man to accounts that prosecutors say contained another $539,000 worth of stolen or laundered cryptocurrency. Investigators say the scams typically occur through phone calls, text messages or messages sent via social media or dating apps.
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