The FBI is investigating a fraudulent cryptocurrency platform named ICHCoin that allegedly defrauded people across the United States out of millions of dollars. FBI Houston Assistant Special Agent in Charge Amanda Culver labeled ICHCoin a “scheme” and a “scam,” highlighting growing concerns about cryptocurrency-related fraud.
FBI investigation reveals approximately $30 million has been lost to ICHCoin in the US since December 2023 Culver reiterated the importance of recognizing red flags.
This scam typically begins with someone contacting potential victims through fake social media profiles on platforms like Instagram or Facebook. They lure individuals with promises of lucrative crypto investments and eventually induce them to communicate via WhatsApp with people pretending to provide investment guidance.
Culver warned that victims are often pressured to mislead banks about large wire transfers to ICHCoin. This platform offers a fake app to track your investments, but in the end there are no real profits. When victims try to withdraw their funds, they are often ghosted and unable to get their money back.
Sadly, some people have lost their entire life savings to this system. “It’s certainly possible for ordinary people to fall for this scam,” Culver said, stressing the urgency of the situation.
The FBI has identified a victim in Houston and is actively searching for more people affected by this fraudulent platform. Anyone who believes they may have been a victim of ICHCoin can fill out a survey on the FBI’s website.
Culver stressed that people need to do their homework before investing in cryptocurrencies. “It is very easy to use these platforms to deceive people. As interest in cryptocurrencies increases, so does the risk of fraud,” she warned.
Also read: 19 family members accused of crypto fraud of over $119,000 in India
