The name Reinecke suggests he also has the same ancestry as the German conman.
Anyway, sourced the following from a different news source, which just shows how much of a muppet he was to hand over his money - unless he has a paper trail and documented undertakings, this may not even qualify as fraud.
Reinecke stated he decided to invest, swayed by Alex's apparent credibility and feeling fully convinced after their in-person meeting and discussions. However, shortly after Reinecke committed his funds, Alex abruptly claimed that the cryptocurrency website had collapsed.
When pressed for an explanation, Alex attributed the loss to his phone being stolen and the money subsequently being hacked, leading to the complete disappearance of their joint investment. Reinecke has since been unable to establish any further contact with Alex.