Bitcoin millionaire sold cryptocurrency for 2.3 million fake euros

In July, a South Korean millionaire running a cryptocurrency business in Singapore lost €2.3 million by selling bitcoin to scammers.

According to the news publication France24, two scammers promised to invest in the businessman's company and agreed to meet him at an expensive hotel in Nice on the French Riviera. During the meeting, instead of investing funds, the scammers offered the businessman to sell bitcoins for 2.3 million euros in cash. The businessman agreed and at first everything went according to plan, he transferred cryptocurrency to the scammers and received the money, but later discovered that the money was counterfeit.

Police confirmed that the banknotes turned out to be low-quality counterfeits of 500 euros.

After receiving the victim’s statement, the French police managed to arrest one of the scammers, a Serbian citizen, who was detained in Cannes. The suspect had an expensive sports car and a watch worth 100,000 euros. The alleged accomplice has not yet been found.

This is the second such case. Last week, local news source Yle reported that another scammer managed to defraud 22-year-old Finnish citizen Aarni Otava Saarimaa of a large amount of bitcoin.  The funds were supposedly to be invested in a project called Dragon Coin, but Saarima claims that he did not receive any coins or a share in the project. In addition, Saarima may have to pay significant capital gains tax, which could amount to millions of euros.

According to cryptovest.com