- Scammer Bimbo Toyin Akinyemi and the victim signed a contract in which the victim agreed to buy Bitcoin and deposit it into Akinyemi's "investment wallet address”
- The scammer prmised the victim profit margin of $500–$1,240.
- Scammer Bimbo Toyin Akinyemi was found liable for all court costs, $4,000 in investigation fees and expenses, and $50,000 in civil penalties for five infractions
The United States state of Kansas has blocked an attempt by a Nigerian cryptocurrency scammer, Bimbo Toyin Akinyemi, to defraud one of its residents of their cryptocurrency assets.
According to the state’s statement, “State of Kansas, U.S., Thwarts Attempt by Nigerian Crypto Scammer to Defraud Resident, Attracting Over $50,000 in Civil Penalties,” Akinyemi promised the unsuspecting victim a substantial return on cryptocurrency investment.
According to court records, on July 15, 2023, Akinyemi and the anonymous victim signed a contract in which the victim agreed to buy Bitcoin and deposit it into Akinyemi's "investment wallet address" in exchange for a $500–$1,240 profit margin.
Akinyemi took advantage of the victim's ignorance about cryptocurrencies, according to the Kansas Attorney General’s Office, deceiving them by hiding the traceability of fund transfers and making up the idea that funding a digital wallet would "activate" it as an investment account. Akinyemi moved the deposits to his own account after he received them.
BitKe reported that Akinyemi sent the victim a fraudulent $1,000 cheque, which was never cashed. According to the Attorney General's Office, Akinyemi is liable for all court costs, $4,000 in investigation fees and expenses, and $50,000 in civil penalties for five infractions. The victim is also entitled to a reimbursement of their $250 investment.
Akinyemi was sued by the Attorney General's Office Charities and Financial Scams Unit under the Kansas Consumer Protection Act and his wallet, purportedly holding half of a Bitcoin valued at over $28,900 and additional digital currency worth over $4,000, was taken by authorities.
Akinyemi was served with summonses and petitions via email, but they did not reply. As a result, a local judge issued a default judgment against them. Apart from the monetary sanctions, Akinyemi is not allowed to conduct business with customers in the state.
“Cryptocurrency is a borderless asset that allows international scammers to target and defraud Kansans from the comfort of a keyboard,” First Assistant Attorney General, Nathanial Castillo said. “Scammers realize they have a better chance at getting away with fraud if they convince victims to send cryptocurrency. Kansans should always thoroughly scrutinize anyone they meet online before sending payment in cryptocurrency.”
How crypto scammers stole $55 million from trader via phishing
Meanwhile, TheRadar earlier reported that a crypto trader has lost $55.47 million in DAI stablecoin to fraudsters via a phishing attack. This is according to the blockchain security platform Scam Sniffer.
In a post on X, the anti-scam firm said the trader lost the asset after they misappropriatedly transferred ownership of their collateralized debt position (CDP) on DeFi Saver Proxy—a proxy contract created by the DAI stablecoin's issuer to help traders manage their collateralized debt positions (CDPs)—to a malicious wallet.
