A 28-year-old man from Flushing, NY, named Xiallong Wang, has been arrested in Wolcott, CT, for his involvement in a cryptocurrency scam that cost a victim $60,000. The scam involved a fake website called “BingX,” where the victim was lured into investing in gold through a fraudulent account. The police began their investigation after the victim reported the loss. They set up a sting operation, arresting Wang when he arrived to collect more money from the victim. He is facing charges of larceny, telephone fraud, and impersonation. Additionally, it was discovered that he was in the U.S. on an expired student visa. Wang is currently held on a $150,000 bond.
Wolcott Police Charge New York Man in Cryptocurrency Scam
In Wolcott, Connecticut, police have charged a 28-year-old man from New York with theft and phone fraud in connection with a cryptocurrency scam that has cost a local victim $60,000. The suspect, identified as Xiallong Wang from Flushing, NY, was arrested on December 6.
Scam Operation Details
According to the Wolcott police, Wang was involved in a deceptive scheme that operated through a fake website named “BingX.” This site falsely promised to help users transfer cash into cryptocurrency to buy gold. The scam began when a male victim received a random text from a woman who engaged him in an online relationship. The woman persuaded the victim to invest money in gold using the fraudulent BingX account.
Investigation and Arrest
The investigation began when the victim reported the loss to the police. Detectives set up a sting operation, inviting Wang to the victim’s home to collect more money. When he arrived, police arrested him on the spot.
Charges and Legal Actions
Wang faces multiple charges, including criminal attempt at second-degree larceny, first-degree telephone fraud, and criminal impersonation. After confirming that he is a Chinese immigrant with an expired student visa, authorities from the Department of Homeland Security were also notified. Wang was held on a $150,000 bond and brought to Waterbury Superior Court on December 9 before being transferred to the Whalley Avenue Detention Center.
This incident serves as a reminder of the ongoing dangers of cryptocurrency scams and the importance of being cautious with online investments.
Tags: Wolcott, cryptocurrency scam, phone fraud, Xiallong Wang, police news, arrest news, larceny
What happened in the Wolcott police crypto scam case?
Wolcott police arrested a man for a crypto scam that cheated a victim out of $60,000. The victim was tricked into investing in a fake cryptocurrency scheme.
Who was arrested in the Wolcott police case?
A New York man was arrested in connection with the scam. His identity has not been fully disclosed by the authorities yet.
How did the scam work?
The scam involved convincing the victim to invest money in a fraudulent cryptocurrency. The con artist likely promised big returns but disappeared with the victim’s funds.
What should people do if they suspect a crypto scam?
If you think you are being scammed, stop all communication immediately. It’s best to report the scam to the local police and any relevant financial authorities.
What can people do to protect themselves from crypto scams?
To protect yourself, always research before investing. Look for reviews, use trusted platforms, and be cautious of offers that sound too good to be true. Always ask questions and seek advice from knowledgeable sources.
