A man from the English channel island of Jersey just wanted to buy bitcoin. In actuality, the unfortunate victim gave away an eye-popping $1.6 million in life savings to crypto scammers. The Jersey Evening Post reports the thieves promised the victim 1,500% returns on his investments.
According to the Post, a spokesperson for the Jersey Financial Services Commission said: “The victim was engaged for over an 18-month period and they were able to build trust prior to getting the victim to send the greater amounts.”
Detectives and other employees at the U.K. National Crime Agency say it is highly unlikely the islander’s money will ever be recovered from their investigation.