• Sam Bankman-Fried, FTX, SOL, CEL, XRP, ETH, etc., are a few of the high-profile crypto scams and scammers.
• Houston Attorney Andrew J. Cobos of the Cobos Law Firm includes Bitcoin-related legal disputes in his litigation practice.
• Cobos is currently representing an elderly woman who was scammed out of her bitcoin by a young pastor from her church.
In the world of cryptocurrency, there are countless scams and scammers. We hear about the high-profile scams and scammers such as Sam Bankman-Fried, FTX, SOL, CEL, XRP, ETH, etc. But there are also many low-profile ripoffs that fly under the mainstream media radar.
Houston Attorney Andrew J. Cobos of the Cobos Law Firm has taken on a case involving one such low-profile scam. In 2017, an elderly woman was approached by a young pastor at her church, who encouraged her to invest in bitcoin with his help. The woman and the man entered into an oral agreement that she would transfer $80,000 to him, and he would use her money to buy bitcoin and safely store it for her.
But when the woman requested her bitcoin back in July 2020, the pastor gave her a Trezor hardware wallet containing 7.742 bitcoin and a “seed phrase card” that the pastor had completed. Days later, when the woman opened the Trezor, she discovered that all of her bitcoin had been removed from the Trezor device.
Cobos is now representing the elderly woman in a legal dispute, alleging that the pastor maintained a copy of the seed phrase card and recreated the wallet after giving her the Trezor, and thereafter transferred all of the bitcoin to a separate wallet that he controlled. Trial for this case is set for Spring 2023 in Harris County, Texas (case number 2021-51487).
Crypto scams and scammers come in all shapes and sizes. While some are more high-profile than others, the truth is that they can all have devastating effects. This case serves as an important reminder of the importance of being vigilant when it comes to protecting yourself from crypto-related scams and scammers.