FLAGLER COUNTY, Fla. – The Flagler County Sheriff’s Office Cybercrimes Unit has made history.
For the first time, the unit recovered thousands of dollars in stolen cryptocurrency for fraud victims.
Crypto is notoriously difficult to recover because the transactions move quickly and often involve international exchanges.
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This breakthrough marks a significant step forward in the fight against crypto scams, which have often left victims without recourse.
Victims like Cindy Burns, from Orange County, who lost $15,000 after a bank impersonator convinced her to convert funds to crypto.
She said she felt “completely violated.”
Elizabeth Bahmann who lives in Ormond Beach told News 6 losing $90,000 took an emotional toll on her. “I was close to taking my life,” she said.
Brandon Paige of Orlando lost nearly $600,000 when his crypto hardware wallet was hacked.
“It’s stressful to know that you took a blow like that,” he said. “It’s very significant.”
None of these victims have recovered their money.
Detective John Hill leads the Flagler County Sheriff’s Office cyber-crimes unit.
Hill explained how the department used a program called T-R-M to trace cryptocurrency transactions through the blockchain, allowing them to follow the money to its destination.
Few Central Florida law enforcement agencies have the technology.
“A lot of times previously we’d have to say, ‘I’m so sorry for your losses’,” Hill said when telling victims in the past they couldn’t do much about crypto scams.
With this new technology, the department was able to recover $15,000 in one case and $4,000 in another.
Hill called it “a great feeling” and “a little bit of justice for the victims.”
When Hill located the account where his victim’s money landed, after securing a subpoena, he recovered the funds.
The victims lost $19,000, but there was nearly $50,000 in the account.
“All of that money is considered ‘dirty’ money,” Hill said. “I’m not going to give a scammer his money back.”
With the remaining cash, Hill is looking for other victims who may be connected to his two cases, so he can return their money to them, even if they are in other jurisdictions.
Hill emphasized that T-R-M is a game changer, giving law enforcement the tools needed to advance investigations into cryptocurrency fraud.
If you have been the victim of a crypto scam and think your case could be connected, contact the Flagler County Sheriff’s Office.
If you fall victim, keep any wallet addresses you have and report it immediately.
Remember don’t fall for the scheme, don’t get ripped off, but if you do email me at LBolden@WKMG.com
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