CHICAGO — A Chicago area investor lost more than $30,000 in a cryptocurrency scam. As he pushes to recover his funds, he shared his story with WGN Investigates in hopes of educating fellow investors and even law enforcement.
Stan Stewart said he invested his money with an alleged crypto expert. But now he’s left with nothing.
He reported the incident to Glenview Police, but he doesn’t believe law enforcement is doing much to help him recover the money.
“I just think they don’t understand it and nobody is willing to stick their neck out,” Stewart said.
And he may be right.
Kyle Stewart, formerly of the FBI, now works for a leading blockchain intelligence firm, and trains law enforcement on the complicated crypto world.
“A lot of victims feel a little bit hopeless,” he said. “What we are working to do is to train more [law enforcement] folks to do these cases.”
In 2024, Illinois consumers lost $272 million to cryptocurrency fraud, making it a leading type of financial scam.
Last summer, a massive operation by the FBI and Secret Service recovered $225 million. But there are many other cases that remain unsolved.
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