On 8/3/2025 at 7:59 AM, PJ71 said:

How do you know the wealth of this man, was it mentioned in the article?

 

It's not impossible for that amount to be his life savings, or a good chunk of it?

Question is will he get the money back 

On 8/3/2025 at 12:24 AM, save the frogs said:

What is your net worth if you can afford to gamble 1.1 million dollars on a shady crypto site? 

 

 

$1.1 million less than it was apparently.

45 minutes ago, kiwikeith said:

Question is will he get the money back 

What do you think?

Australian guy looks very happy , I'm guessing this is before they told him they can't find the money 🙈

Got bit in the butt by bitcoin greed.

Watch out crypto owners! A new trend seems to be growing: Kidnapping of crypto millionaires and forced transfere of values to "new owners"! This crypto nonsense should really end soon.....😫

On 8/3/2025 at 7:24 AM, save the frogs said:

What is your net worth if you can afford to gamble 1.1 million dollars on a shady crypto site? 

 

 

Would you have picked it for a shady crypto site? Bybit is a legitimate crypto site which the German managed to mimic to scam people. 

 

On 8/3/2025 at 7:24 AM, save the frogs said:

What is your net worth if you can afford to gamble 1.1 million dollars on a shady crypto site? 

 

 

Good to catch the guy, but I doubt that the victim will see a penny back of his money

On 8/3/2025 at 10:07 AM, save the frogs said:

 

Would a very wealthy guy put his entire life savings into a shady crypto site?

 

Doesn't make sense. 

 

Where does it say his life savings? Do you actually read and comprehend these posts or just pick what suits your agenda for the day.

 

27 minutes ago, harryviking said:

Watch out crypto owners! A new trend seems to be growing: Kidnapping of crypto millionaires and forced transfere of values to "new owners"! This crypto nonsense should really end soon.....😫

Can end in chainsaw massacre and be stuffed in a freezer. Was not bitcoin but simply bank transfer/passwords. Famous case in Pattaya.

On 8/3/2025 at 7:57 AM, save the frogs said:

 

No, but when you have too much money you don't know what to do with, there's more likelihood of some unscrupulous people picking your pockets. 

 

For one thing, ultra rich people often outsource to other people to manage their money because it's a full-time job to invest 10s of millions of dollars ... and then can you trust these people? 

 

You make a lot of assumptions...in this case it's none of your business.

22 hours ago, brfsa2 said:

What probably happens is that this new Crypto site offered a very high staking or "automatic AI" based trading, then wait for large deposits and gone by the wind.

 

Most exchange offer staking, meaning, you just leave your crypto and it will give you a fixed return. I used to stake Cardano (ADA) getting 7-8% , now a days lucky to get 3-4%. But of course I did staking holding private keys.

 

So, this is how the scam goes.

1. New crypto exchange offers much higher returns than other established exchanges. Such as BTC for 5% Yearly Yield, while most exchanges are 0.9%

2. People sign up and start depositing their crypto from their hardware wallet or other exchange.

3. Suddenly exchange goes down and nobody can withdraw. 

4. You just lost everything.

 

Don't fall for high staking offers, keep your crypto in a hardware wallet.

better off just stick the gold of all coins, BTC, and use as your retirement.

 

my friends ask me from time to time since many years, "What should I invest" I say BTC only. nothing else.

 

 

Bybit is not a new crypto site, it’s been around since 2018. 
The Bybit crypto sight was hacked earlier this year with loses over $1.4 billion. Perhaps the German was part of that hack. 

 

22 hours ago, brfsa2 said:

What probably happens is that this new Crypto site offered a very high staking or "automatic AI" based trading, then wait for large deposits and gone by the wind.

 

Most exchange offer staking, meaning, you just leave your crypto and it will give you a fixed return. I used to stake Cardano (ADA) getting 7-8% , now a days lucky to get 3-4%. But of course I did staking holding private keys.

 

So, this is how the scam goes.

1. New crypto exchange offers much higher returns than other established exchanges. Such as BTC for 5% Yearly Yield, while most exchanges are 0.9%

2. People sign up and start depositing their crypto from their hardware wallet or other exchange.

3. Suddenly exchange goes down and nobody can withdraw. 

4. You just lost everything.

 

Don't fall for high staking offers, keep your crypto in a hardware wallet.

better off just stick the gold of all coins, BTC, and use as your retirement.

 

my friends ask me from time to time since many years, "What should I invest" I say BTC only. nothing else.

 

 

 

The screen shot shows ByBit which is a legit exchange, although it isn't licensed in Thailand so it has been blocked and can only be access via VPN. 

The screenshot also seems to show that he was using USDT Perpetuals which is basically gambling (unless you *really* know what you are doing!). 

Trading Perpetuals can make you a lot of money but it can also lead to losing everything.

 

20 hours ago, KhunBENQ said:

All the millions were on the phone. A real pro...

Don't be stupid.   The "money" is not on the phone, but he may have had the trading app on there and the login saved on the phone.  

What is far more likely is the German guy gambled and lost both his own money and the Australian's money.   

 

3 minutes ago, Freddy42OZ said:

The screen shot shows ByBit which is a legit exchange, although it isn't licensed in Thailand so it has been blocked and can only be access via VPN. 

The screenshot also seems to show that he was using USDT Perpetuals which is basically gambling (unless you *really* know what you are doing!). 

Trading Perpetuals can make you a lot of money but it can also lead to losing everything.

 

Don't be stupid.   The "money" is not on the phone, but he may have had the trading app on there and the login saved on the phone.  

What is far more likely is the German guy gambled and lost both his own money and the Australian's money.   

 

In which case they are both idiots.

4 hours ago, Ironmike said:

This copper was very obviously on the take back in Oz because like so many other Australian police you need to be taking bribes to amase that much money and if he's that stupid then a fool and his money are soon parted. 

Are you serious? You actually think 1.1 million saved by the time you reach 65 is a lot? Your comment is only foolish thing here not the ex copper. Good luck when you retire 🤣 

5 minutes ago, Freddy42OZ said:

Don't be stupid.   The "money" is not on the phone, but he may have had the trading app on there and the login saved on the phone.  

That's why I added a "liar".

Aaàaah the German should of blamed a Thai wife or gf, she would have only got  a 1000 bant fine and a a photo of a few pointy fingers

30 minutes ago, Tongjaw said:

Where does it say his life savings? Do you actually read and comprehend these posts or just pick what suits your agenda for the day.

 

A significant portion of his pension? Sounds pretty close to his life savings to me. 
 

Or do you just like to nit pick without actually adding anything to the conversation.

8 minutes ago, wensiensheng said:

A significant portion of his pension? Sounds pretty close to his life savings to me. 
 

Or do you just like to nit pick without actually adding anything to the conversation.

Read my other comments I’ve added plenty to the thread. Unlike you I tend not to kick a man when he’s down. 

Not surprised as the greed is the demise of all people:

 "Convinced by the professional appearance of the website and the promise of high returns, they invested heavily in the scheme"

17 minutes ago, Tongjaw said:

Read my other comments I’ve added plenty to the thread. Unlike you I tend not to kick a man when he’s down. 

Sorry, didn’t know you are down. I won’t kick you in future.

 

See, I can nit pick too. It doesn’t add anything

3 hours ago, phetphet said:

If AUD rather than USD, then although a fair sum, its only around GBP500,000. Could be the proceeds of a house sale.

It's the usual Thai BS bigging themselves up, its probably a million baht. 😅😂😅. Or more likely the Vietnamese dong. 😅😂😅

This kind of person is the lowest scumbags who don't care if they ruin victims life.

In some cases people lose all they had and even kids is suffering.

On 8/3/2025 at 7:59 AM, PJ71 said:

How do you know the wealth of this man, was it mentioned in the article?

 

It's not impossible for that amount to be his life savings, or a good chunk of it?

It was stated in previous articles that he invested almost his entire life savings.

Will he get the money back though???? Or is that now on its way to the Thai police !

Talk to oneself don’t put all your eggs in one basket TIT

Help get all my money back Sir’s and there’s a nice fat reward 

These thieving scammers are the scum of the earth! I hope he’s locked up in a Thai jail for ever! 

Why is a man with $1.1 million wanting to double his money ? Scammers rely on people who are lonely or greedy, i have a feeling this guy was greedy 

1 hour ago, Brian Hud said:

Why is a man with $1.1 million wanting to double his money ? Scammers rely on people who are lonely or greedy, i have a feeling this guy was greedy 

 

Who cares, why not. Most people would trade it all for a little more....