A 67-year-old Lancaster County man lost $156,000 from his 401K after becoming a victim of a cryptocurrency scam. LSO Chief Deputy Ben Houchin says they were called to a rural Waverly home on Wednesday to investigate a fraud.
He says the man became interested in investing in bitcoin and began researching several companies. “After several months, he invested $156,000 in a company called Berge Blockchain Technology through WhatsApp,” Houchin says.
“The man believed his investment grew to $28 million in a very short time, but when he attempted to withdraw some of the money, the company would not allow him to do so.” The company told the man 30% of his bogus earnings belonged to them.
Houchin says it was at that point the man realized it was a scam. “In my experience communicating through WhatsApp isn’t a common way for a company to communicate with their customers. Since the man initiated the transfers himself Houchin says they will have a very difficult time getting the money back.