In a Bitcoin Facebook Scam, Game Show Winner Loses $39,000

In a Bitcoin Facebook Scam, Game Show Winner Loses $39,000

According to a Tuesday report on Daily Record, a retired railway worker, Graeme Garioch is looted by a fraud ad on Facebook. Garioch was the winner of Deal or No Deal in 2007. The retiree lost around $39,000 via a phone investment to facebook ad from OMC markets.

Graeme Garioch was about to purchase a house from that money. However, he fell into the trap of a fraud investment company who assured him to double his money by investing it in a Bitcoin wallet. As per the sources, Garioch deposited a total of $39K into the bitcoin wallet. He also signed a waiver of not accessing his funds for the next six months. Plus, he gave access to his bank account as the company told him that they would trade bitcoins on his behalf.

In March 2019, when his invested amount was doubled, Garioch tried to pull out the whole money. However, the company denied the request by saying that there is further a fee involved of USD 7,880. And, the victim agreed to the same.

Afterward, Garioch funds were drained out by the scammers and he completely lost his touch with the fraud company. All his emails and texts went unanswered by OMC markets. Although the money lost can not be retrieved, Garioch has asked Facebook to take more security measures while allowing anyone to post ads on it. Many innocent people like him can lose their whole life savings in such scams.

Undoubtedly, the government has already set some guidelines and precautionary measures to curb them. Despite that, the online frauds are splurging while making innocent victims year over year. Social media networks such as Facebook or Instagram have become an essential part of our lives. However, they are ignoring the need for and implementation of such guidelines against scammers. Any fake advertisement or claim over there can easily reach out to a mass audience. Thus, it should be necessary to incorporate strict guidelines against such advertisements or scammers.

About the author

Ellis Coles

Ellis Coles is working at as editor. He has a great knowledge of cryptocurrencies. He covers all the latest information regarding cryptocurrency, blockchain technology, along with technical analysis.

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