FBI Investigates ICHCoin Crypto Scam Costing Victims Millions
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
The FBI has launched a full-scale investigation into a sophisticated crypto scam involving the fraudulent platform ICHCoin, which has swindled over $30 million from unsuspecting victims across the United States.
The scheme, which began in December 2023, has targeted nearly 600 individuals, many of whom have lost their entire life savings.
FBI Houston’s Assistant Special Agent in Charge Amanda Culver has labeled ICHCoin both a “scheme” and a “scam,” and the FBI is now urging additional victims to come forward.
The ICHCoin scam operates through a calculated and methodical approach, relying on social media platforms like Facebook and Instagram to find victims.
The perpetrators first reach out through fake profiles, offering what appears to be legitimate advice or courses on cryptocurrency investing.
This initial contact is made to gain the victim’s trust, and once successful, the scam moves to a messaging app like WhatsApp, where the victim is introduced to a so-called “crypto expert” who offers step-by-step guidance on making investments.
Victims are quickly convinced to transfer large sums of money to the ICHCoin platform.
Culver described how individuals are often manipulated into lying to their banks about the nature of these transactions.
Once the funds are transferred, victims can track their supposed investments through the ICHCoin app.
However, this app only creates the illusion of gains. When victims try to withdraw their funds or collect their returns, they are met with silence—the scammers either “ghost” them or freeze the
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