Scammers face two years in jail for impersonating HitBTC and defrauding $140,000 from a user.

Two scammers who impersonated HitBTC to commit a wire fraud of $140,000 may face two years in jail. Both the accused pled guilty to the charges of conspiracy to commit wire fraud.

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Two Canadian men Jagroop Singh Khatkar and Karanjit Singh Khatkhar, pled guilty to the charges of conspiracy to commit wire fraud that was carried out in July 2018 via Twitter. The pair pretended to be the support service of HitBTC exchange on Twitter.

 

Scammers impersonated HitBTC exchange to scam $140,000

As per the documents filed with the United States District Court in Portland, Oregon, scammers posed as the support service for HitBTC exchange on twitter and convinced a woman user, 63-year old, to reveal the details of her trading account. The pair then hacked into the account and stole 23 BTC, worth $140,000 at the time. Both the scammers may face two years in jail. The victim of the crime said, “I feel sorry for them. I have a son that’s 27. I hope they can turn their smarts into something more beneficial.’’

 

Crypto scams continue to grow.

Highly sophisticated scams involving cryptocurrency are increasing all around the world. Earlier this month, three men were arrested for allegedly running a cryptocurrency Ponzi scheme that defrauded investors of $722 million. South Korea-based crypto exchange Upbit suffered a major hack as hackers managed to steal $50 million worth ETH from its hot wallet.

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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