September 27, 2021

Man Loses Over $700,000 in BTC to Alleged Bitcoin Trading Scam Advertised on YouTube

A man from Northwest England man lost over $700,000 worth of Bitcoin after falling prey to an alleged investment scam advertised on YouTube.

44-year-old Naveed Saghir, who operates his own home cinema business, told the BBC in an interview that he was tricked into handing over Bitcoin and cash by fraudsters posing as agents for a convincing fake investment company.


“I was watching videos on YouTube, saw an advert offering the chance to invest in stocks and shares and filled in a form requesting more information.

The next day I got a call from someone who called themselves a customer service agent and paid £250 to start trading.

The day after I was called again, this time by someone who described themselves as my account manager and given a username and password for an extremely convincing trading website.”

Saghir made several payments to the con artists starting in…

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