8 Comments
Feb 11, 2022Liked by Toby Hazlewood

I invested in bitcoin 5 or 6 years ago $7,000 with USI tech. To buy Bitcoin at the time was under $3,000 a coin it grew quickly. USI Tech stole my money and shut down my access. Any comments. I would love to regain but would love even more if they paid the piper. Several people I knew lost way more than I did. This operation was a pyramid scam and they got away with it. Has anyone investigated them? Let me know what your thoughts are? Thanks Nancy Iannitelli

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author

Hi Nancy, I’m really sorry to hear that you were caught by this scam. I hadn’t heard of USI Tech before, but a bit of research filled in the gaps. I guess this is one of the downsides of crypto and Bitcoin being unregulated… the authorities take less of an interest when such crimes are committed. I suspect that with USI Tech having registered in the UAE, those leading the scheme were relying on international borders and apathy within law enforcement and government to protect them if it all blew up, which it clearly did. Hopefully those still campaigning for justice may get some satisfaction eventually but I fear most of the money conned out of you and others like you is likely lost at this point.

All I can say is that while the financial loss must hurt, I hope you haven’t been put off investing in Bitcoin. The gains since 2017 would have been nice to have if only USI Tech had actually been investing customers’ money in Bitcoin rather than paying off those at the top of the pyramid.

There are still gains to be had though, I think.

Thanks for taking the time to read and comment anyway

Toby

Here’s a good summary on USI Tech for anyone interested:

https://coincentral.com/usi-tech-crypto-scam/

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Feb 16, 2022Liked by Toby Hazlewood

So fortunately I left $900 in my external wallet and never looked in it until last year, it grew to $12,000 and I invested it in bitcoin again this time on Voyager..although it has dropped since I began making investments again buying other coins as well. I am hoping to see it go up again. Thank you again for your reply.

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I'm glad that you've not lost your faith in the growth potential of Bitcoin anyway Nancy! Thanks for sharing your story!

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Morgan's "music" should be prosecuted on its own.

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Fair point Kevin! With the (stolen) money at her disposal, you might have expected her to invest in the production value a little, surely?!

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