An Australian couple lost over AU$20,000 (US$14,000) in a bitcoin scam. Later, the perpetrator taunted them. Con Artist Openly Ridicules Victims of Bitcoin Scam.

Nick and Josie Yeomans invested in a trading scheme which they found on Facebook, according to a report by the ABC. They initially saw good returns from their small investments from the company that used the web domain Coinexx.org (not to be confused with Coinexx.com).

The positive early results convinced them to put more and more of their savings into Coinexx.org until they had over AU$20,000 invested. Despite fears that it could be a scam, they remained committed and persuaded a family member to match their investment.

The report says that Nick even gave up his job based on the returns they were initially getting. Once they ran out of funds to invest. However, the payments dried up and the firm closed access to their funds.

Con Artist Openly Ridicules Victims of Bitcoin Scam. The couple later received a message via a WhatsApp account which rubbed salt into their wounds. The WhatsApp number is what Coinexx.org used to communicate. However, the message said:

“Let me save you the stress, cus you’ve been through a lot already. Coinexx is a scam. Don’t bother about trying to get back your money. … Just focus on getting money to take care of your family.” 

The Australian Competition and Consumer Commission (ACCC) said it had not received any other complaints about Coinexx.org, and told the ABC that the details provided by the Yeomans “have the appearance of a Ponzi scheme”.

A report was published in April by the ACCC and other government agencies disclosing that Australia had seen a surge in reports of scams involving cryptocurrencies in 2018.

The total amount lost to scams, including fiat currencies was AU$489 million (US$345 million).

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