He lost $340,000 to a crypto scam

Cryptocurrency investments have been gaining popularity, but along with the potential for profit comes the risk of falling victim to scams. Naum Lantsman, a 74-year-old businessman from Los Angeles, found himself in a nightmare scenario after losing his entire life savings to a cryptocurrency scam.

Like many others, Lantsman turned to cryptocurrency investments amidst the challenges brought by the pandemic. With his business suffering and retirement savings dwindling, he saw cryptocurrency as a promising opportunity. However, what seemed like a golden opportunity turned into a devastating loss.

Lantsman came across a company called SpireBit on Instagram, claiming to be an international financial broker based in London. Intrigued, he decided to invest, initially transferring $500 into his SpireBit account. A company representative named Pavel, communicating in his native language, Russian, convinced him to invest more over time.

As Lantsman logged into his SpireBit account, he was greeted with what appeared to be substantial profits. Encouraged by this false sense of success, he eventually poured his entire life savings, totaling over $340,000, into the account.

However, when Lantsman attempted to withdraw funds, he encountered a harsh reality: the charts depicting earnings growth were fake, and the documents from Barclays, the British bank, were forged. By this point, it was too late. His money was gone, and his family faced financial devastation.

Unfortunately, Lantsman's story is not unique. Another victim, Aleksey Madan, also fell prey to SpireBit, losing all the proceeds from selling his house to the scam. Despite promises of returns, both Lantsman and Madan found themselves entangled in a web of deceit.

SpireBit, the company at the center of these scams, presents itself as a legitimate cryptocurrency investment platform, but investigations reveal a web of deception.

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