The victims claim the cryptocurrency scheme is run by one Chris O’Brien. It attracts new investors mainly through WhatsApp service, and also uses the method of word of mouth, paying profits to earlier investors.
One of the victims said that O’Brien asked him to create an account on his platform and register with the British Starling Bank, and then transfer funds to him from there to trade cryptoassets.
Users saw growing profits in their Safe Holdings personal account, and this did not arouse suspicion at first.
Scotsman Tom Roberts, 66, said he learned about Safe Holdings from a friend who bragged about earning £300 (about $371) a week there.
After listening to his friend, Roberts transferred a total of £16,000 ($19,822) to the platform in four months.
His account has accumulated about 99,000 pounds ($122 650), but the victim managed to withdraw only 6,000 pounds ($7433). O’Brien left all of the victim’s messages unanswered.
“I’ve been diagnosed with cancer and my wife has Huntington’s disease.. I told Chris I was dying, but he just ignored me. That money means a lot to us, and now it’s gone,” laments the deceived user.
A 57-year-old truck driver, Alan Gow, also complained about Safe Holdings.
In six months, the elderly man invested £12,000 (about $14,866) in the project from his pension fund. The man was also able to withdraw only part of the money – about 8,500 pounds ($10 530).
Last November, amid the collapse of cryptocurrency exchange FTX, Starling Bank banned customers from transferring money from their accounts to cryptocurrency platforms.
The bank justified its decision with the high volatility of cryptocurrencies.