MILFORD — Investigators were able to recover more than half of the money stolen from the victim of a Bitcoin scam, but no arrests are expected, state police said Tuesday.
Members of the Connecticut State Police Statewide Organized Crime Investigative Task Force learned of the theft Sept. 2. A Milford resident lost $41,150 when the person was scammed into depositing the money into Bitcoin ATM machines, state police said.
The task force traced the money to two major cryptocurrency exchanges in the United States and the Cayman Islands. Investigators were able to recover about $23,000, according to state police.
The money was returned to the victim Friday during a restitution action in state Superior Court in Milford, state police said.
However, no arrests are expected.
“Investigators learned that the suspects reside outside of the United States and no arrest is anticipated at this time,” state police said in a news release.
State police Sgt. Christine Jeltema said in a phone interview that investigators were able to identify who was responsible for the theft, but the severity of the crime doesn’t meet international extradition requirements.
Scams involving cryptocurrency are on the rise and are becoming more sophisticated, she said. While it is possible for law enforcement to investigate these cases and possibly recover money, time is of the essence.
State police also offered tips on how to protect yourself or others — particularly older adults who often are targeted — from scammers:
Police said older adults may be tempted to relent to persuasive telemarketers or people seeking “donations” for their “charity.” Police said to never provide money over the phone.
Police said a common tactic is for scammers to call older…
