A group of South African investors recently confessed to losing money to a brazen scammer after he convinced them to buy and hold nearly worthless physical coins. The coins, which are denominated in the Bostwana pula currency, were initially sold to a group of South African women back in 2019 when bitcoin was only worth $3,500.
However, according to a report, this con only came to light when one member of the group, who is only known as Lizet, attempted to cash out after she lost her job. Lizet explained:
Meanwhile, Lizet adds that before the women realised they were being conned, the scammer would tell them that what they were â€œdoing is what investors call hodlâ€ and that â€œwhen the price is right people will be fighting to purchase the coins from us.â€ It was this reassurance that convinced Lizet, who was waiting patiently to become a millionaire, to take out a loan which she used to buy the coins.
In the meantime, the report quotes an unnamed spokesperson of the countryâ€™s police also confirming that the physical coins in question were in fact Botswana Pula coins. The police also revealed that â€œinformation (has been) filed off and the letters BTC (are now) engraved on them.â€
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