HOUSTON, Texas (KTRK) — The FBI is looking to identify additional victims of a fraudulent cryptocurrency platform that has taken millions of dollars from people across the U.S.
FBI Houston’s Assistant Special Agent in Charge Amanda Culver called ICHCoin both a “scheme” and a “scam.”
She said it starts with someone reaching out to the victims on social media, including Instagram or Facebook, and asking if the recipient wants to learn more about investing in cryptocurrency. She said the profiles reaching out are fake. The victims are then directed to WhatsApp to communicate with individuals claiming to teach them.
From there, Culver said that people are urged to lie to their banks about the large wire transfer from the account to ICHCoin.
According to the FBI, the victims can track the return on their investments on an ICHCoin app, but ultimately, there is no return on the investment.
Culver said when the victims try to collect their money from the platform, they are ghosted and cannot get their money back.
Throughout the investigation, the FBI found people who had lost their entire life savings on the fraudulent platform.
“The average person could certainly be fooled by this scam,” Culver said.
ABC13 asked Culver if the person or persons behind it were in the U.S. or abroad, and she said they were working to find out.
“I think it’s important for people to know that any time you receive unsolicited messages from people asking you to invest, promising high rates of return on your investment, telling you that they’re going to give you free money for you to invest, anything along those lines, those are red flags,” Culver explained. “We want to make sure the word is out there that these fake platforms exist.”
Since December 2023, the FBI has found that approximately $30 million in the U.S. has been lost to the platform.
“It is extremely easy to use these platforms to bamboozle people,” Culver said. “It’s a whole new world for folks. People are very interested in investing in cryptocurrency, and crypto is one of those platforms on which folks recognize that there can be a return on investment. The concern is that homework needs to be done.”
They have already identified victims of ICHCoin in Houston but are looking to hear more from them.
Anyone who believes they have fallen victim can answer the questionnaire on the FBI’s website.
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