Charles Cox, a Virginia resident, is speaking out after nearly losing his life savings to a cryptocurrency scam. “I’ve been financially assaulted, and it’s a devastating feeling,” Cox shared, still reeling from the $272,000 loss to someone he thought he could trust.
The scam came to light when Cox, working from home, received an unexpected visit from a woman claiming to be from Fairfax Adult Protection Services. She informed him that the agency had been alerted to Cox wiring large sums of money, and they feared he had been scammed. “Mr. Cox, we have reason to believe that you’ve been scammed,” she told him.
The scam started in August 2023, when Cox accepted a Facebook friend request from a man named Jansen David, who appeared to have mutual friends. The two chatted on Facebook Messenger before switching to WhatsApp, where their conversations spanned months. They discussed family, cooking, past relationships, and work. Eventually, Jansen introduced the idea of investing in cryptocurrency, showing Cox a seemingly legitimate bitcoin website.
Cox initially invested $1,000 and was convinced he had made a profit, as screenshots of his account showed rising balances. In December, Jansen convinced Cox to invest $185,000, but days later, the visit from Adult Protection Services shattered the illusion.
Cox soon learned that the bitcoin website, crypto account, wire transfer, and even his “friend” were fake. The Facebook profile, which once showed a man, now displayed a woman. FBI Special Agent Kevin Gallagher explained that this scam is known as “pig butchering” or crypto confidence fraud, where scammers lure victims into trusting fraudulent websites designed to look legitimate.
Despite attempts to recover his funds, Cox’s bank was unable to reverse the wire transfer. To make matters worse, he had taken out a loan to cover fake fees associated with his crypto account. The FBI also revealed that some scammers are themselves victims of human trafficking, forced to work in fraudulent call centers.
Cox now warns others to be cautious. He advises people to avoid clicking on unfamiliar links, be skeptical of online acquaintances, never share personal information with strangers, and insist on meeting in person or via video before engaging further.
“Be careful,” Cox urges. “You’ve got someone who is basically trying to rob you, and they’re doing it with a smile.”