An 80-Year-Old American Man Loses Nearly $285,000 in a Scam, Funds Transferred to Cryptocurrency, Then Sues JPMorgan Chase

BlockBeats News, March 20, According to Business Insider's report, 80-year-old New York investor George Chryssanthou fell victim to a telecommunications scam, losing approximately $285,000. The scammer gained remote access to his computer by posing as a Microsoft tech support employee and persuaded him to make multiple wire transfers to an account allegedly belonging to Coinbase during January 2025. The transferred funds were then converted to Bitcoin and moved.

The victim has filed negligence charges against Charles Schwab with the Financial Industry Regulatory Authority (FINRA), alleging that the brokerage firm failed to identify and prevent these abnormal high-frequency large transfers. The scam involved a total amount of $284,650, with individual transfer amounts ranging from $18,000 to $90,000.