Apple Impersonators Drain Elderly Man’s Account In Crypto Fraud, Feds Seek $1M Forfeiture

Federal prosecutors in Cleveland are seeking forfeiture of nearly $1 million in cryptocurrency linked to a scam that drained an elderly Elyria man’s life savings, highlighting the growing trend of sophisticated crypto fraud targeting vulnerable investors.

What Happened: The victim lost $408,000 after scammers, posing as Apple Inc. support representatives, gained remote access to his computer in October 2023. The criminals transferred his funds through Tether (CRYPTO: USDT), the largest stablecoin platform, to obscure the money trail, according to news publication Cleveland.

The case marks the second time in two months that Cleveland prosecutors have pursued the seizure of …

Full story available on Benzinga.com