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Lehigh County man lost over $62K in cryptocurrency scam, cops say

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Lehigh County man lost over K in cryptocurrency scam, cops say

A 57-year-old Emmaus man fell victim to a cryptocurrency scam that bilked him out of more than $62,000, state police said.

Pennsylvania State Police in Fogelsville said the man on July 15 reported to authorities he was being duped. Investigators say the scheme involved the victim providing financial information to a scam artist posing as a legitimate well-known cryptocurrency investor and entrepreneur.

The incident began in October 2023 over a Google workspace chat thread and went on until early April, according to a state police news release.

The victim received assistance from whom he thought was the legitimate investor in setting up several bitcoin transactions over a span of seven months. Investments totaled $62,115, according to state police.

When the victim went to access the funds, he realized all the cash was gone, police said.

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Pennsylvania State Police in Fogelsville are investigating the scheme. The victim also has reported the scam to the Pennsylvania Attorney General’s Office.

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

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SEC Sets Bullish Tone on On-Chain Markets as Blockchain Settlement Becomes Strategic Priority

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SEC Sets Bullish Tone on On-Chain Markets as Blockchain Settlement Becomes Strategic Priority
The SEC is signaling a decisive push to move U.S. financial markets onto blockchain infrastructure, framing on-chain settlement as a priority upgrade that could reshape post-trade systems and regulatory strategy under Chair Paul Atkins.
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Westlake police say cryptocurrency scam cost woman over $5,000

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Westlake police say cryptocurrency scam cost woman over ,000

WESTLAKE, Ohio – A convenience store clerk at 1:30 p.m. on Nov. 26 alerted a police dispatcher that a female customer was feeding large amounts of cash into a cryptocurrency ATM at the store on Center Ridge Road at Dover Center Road.

The clerk said the customer would not believe the clerk’s warning that she was being scammed.

Officers arrived to find the 71-year-old still “anxiously depositing” cash into the machine. Officers told her to stop, but she did not believe the uniformed men. The officers talked to her for several minutes before she finally believed that there was an issue. She was still on the phone with the scammer at the time.

The incident started that morning when the victim received a pop-up message on her home computer instructing her to call a provided support phone number due to a supposed issue with the computer’s operating system. She called the number and was connected to a man who claimed he was a representative from Apple, according to a police department press release.

The man talked her into allowing him remote access to her computer while he asked for her bank information. The scammer talked the victim into believing that there was a problem with her accounts, and she was at risk of losing $18,000 in connection with pornographic websites out of China or Mexico.

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She was connected to a fake fraud department for her bank, and another scammer persuaded her to go to a bank and withdraw as much cash as they would allow. The scammer even told her to give the teller a story about needing cash to buy a car. The perpetrator kept the woman on the phone as she took out cash and traveled to the crypto ATM. The victim had deposited approximately $5,500 before officers persuaded her to stop. The Westlake Detective Bureau is attempting to recover the lost funds.

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Youtube Expands Creator Monetization Using Paypal USD Stablecoin

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Youtube Expands Creator Monetization Using Paypal USD Stablecoin
Youtube has reportedly begun letting U.S. creators receive payouts in Paypal’s dollar-pegged stablecoin, Paypal USD (PYUSD), signaling a shift toward regulated digital currencies as mainstream payment tools and deepening stablecoins’ role in creator monetization.
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