Flagler County Sheriff Returns Funds to Victims of Cryptocurrency Scams

Sheriff Staly Takes Action Against Cyber Crime

FLAGLER COUNTY, Fla. – On Wednesday, Sheriff Rick Staly announced the successful recovery of funds for two local residents who fell victim to cryptocurrency fraud schemes.

First Successful Recovery by Cyber Crimes Unit

This event marks a significant milestone for the Flagler County Sheriff’s Office (FCSO) Cyber Crimes Unit, as it is the first instance where they have successfully traced, seized, and returned cryptocurrency funds to victims of scams.

Details of the Fraudulent Incidents

In December 2024, one victim reported being tricked by an online scammer who convinced her to transfer $612.71 from her Bitcoin account using the CashApp mobile payment platform.

Another victim experienced a different type of fraud in January when she received a deceptive email that appeared to be from PayPal, claiming she owed money and providing a contact number for further communication.

During a follow-up phone call, the scammer gained unauthorized access to her computer and, under the pretense of a refund error, persuaded her to visit a gas station and transfer $4,000 in Bitcoin via a kiosk.

Investigation and Recovery Efforts

Detectives managed to trace the stolen funds to a wallet on the LBank Exchange, linked to an individual based in India. Following this lead, law enforcement executed search warrants in April and May to seize the stolen cryptocurrency from both incidents.

Ongoing Challenges in Cyber Crime

Sheriff Staly emphasized the growing prevalence of cryptocurrency scams, noting the challenges in recovering lost funds. “These scams are increasingly popular among criminals, and retrieving the money is notoriously difficult,” he stated. He highlighted the establishment of the Cyber Crimes Unit and the acquisition of advanced financial software as key steps in combating these crimes.

Future Actions and Investigations

The investigations into these scams are still active, and authorities have not yet made any arrests related to the cases.

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Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research before making any investment decisions.