Fraudsters laundered money stolen from pensioners using cryptocurrencies

American fraudsters stole more than $ 2 million from pensioners, laundering the stolen funds using cryptocurrencies.

According to the U.S. Department of Justice, 74-year-old Lida Harris and 35-year-old Tracy Glinton were among 8 fraudsters who called elderly people posing as their grandchildren and relatives and asked for financial assistance. The fraudsters used the money to buy cryptocurrency.

«The fraudsters exploited the elderly’s love for their grandchildren and received tens of thousands of dollars,» said U.S. Attorney Randy Grossman. In total, more than 70 pensioners lost their savings — they sent money by mail, made bank transfers, and in some cases, the fraudsters took the money in person.

It is not yet known what will happen to the $ 2 million in cryptocurrency and whether it will be possible to confiscate it and return it to the owners in fiat currency. For example, the UK has a law that allows for the confiscation of cryptocurrencies in the fight against crime. This is how $ 6 million in cryptocurrencies were recently seized from a drug trafficker.