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Baffling seems to be the best way to describe the online account of an investor who lost his entire life savings on a cryptocurrency website.

The 78-year-old retired trawlerman, who Ill call just by his first name John, began by putting 250 into Cryptomusu.com.

It claimed to offer a secure platform and expert help in trading virtual currencies incuding Bitcoin, Ethereum, Ripple, Dash and others, promising highest yields in the market.

John describes his account manager Daniel Cohen at a wild guess a made-up name as very friendly, saying: We used to discuss families and Liverpool and our likes and dislikes.

Having wormed his way into Johns confidence, the account manager persuaded him to invest more and more, saying he should borrow from friends or family, or put the money on his credit card.

His investment became 2,500, then he put in another 14,000 and 5,000 shortly afterwards.

John says he could not make head nor tail of the website but that didnt seem to matter at first because Mr Cohen traded on his behalf and his account appeared to flourish.

Then, literally overnight, a supposed balance of $90,000, around 81,000, was wiped out due to what the website called some bad trades.

Cryptomusu persuaded John to try to recover his loses by taking out a 15,000 loan and increasing his overdraft to fund new investments, with equally disastrous results.

John is now having to pay 500 a month to cover debts that a few months ago he could never have imagined having.

His emails to Cryptomusu pointing out that they were aware of his complete lack of knowledge of cryptocurrency trading resulted in a compensation offer of just 3,000, and only if he signed a non-disclosure agreement.

You convinced me that I had nothing to worry about as my money was as safe as houses, he said to Mr Cohen in an email.

Can you imagine how I feel right now?

I cant eat or sleep and I havent told my wife yet that we are bankrupt and could even lose our home.

I am in a state of shock verging on suicidal.

You actually called me your friend and assured me that you would take care of us.

It now seems to me that your task was to gain my complete confidence, which you did, build up a good repartee and then take me to the cleaners.

Youd need a heart of stone not to be moved by that and Cryptomusu hasnt been moved.

According to its website its owned by a company called Agatha Limited at 8 Copthall, Roseau Valley, Dominica in the Caribbean.

This notorious address has been used by other cryptocurrency companies, including Options Tech Limited.

Last year the Financial Conduct Authority warned consumers to avoid this unauthorised company and its websites unitedmarkets4you.com, upperbrookstreet.com, cryptexmarkets.com and blockchainexchangepro.com.

It has also warned against other sites at the same address including toroption.com and binaryuno.com.

Cryptomusu has not replied to my emails.

Visit link:
Cryptocurrency scammers carefully built up their target's trust, then they fleeced him mercilessly - Mirror Online