Martin Lewis issues Bitcoin scam warning after retired teacher loses £120,000 to fraudster

1 min read


“This isn’t about Bitcoin. These are criminals who are just taking your money and using Bitcoin, much like they use me as someone who is trusted on money, they use Bitcoin – because everyone knows the price goes up – as just another way to draw you in.”

Teresa explained there was a point when she thought her investments had made a profit, and wanted to cash out.

However, the scammers told her to do so, she would need money to cash out.

To access the money the criminals told her she needed, Teresa then borrowed £25,000 from a friend, and took out a bank loan of £18,000, because the scammers said she needed to pay a ‘tax’.



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