UK Crypto Scammer Falsely Claims $4.7M in Repayments
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BTCCSquare news:
Timothy Barnes, a British fraudster, admitted guilt to 34 charges including theft and deception after orchestrating a $2.6 million crypto scam. His scheme involved traditional cons—phony bank calls demanding fake tax payments—but with a digital twist: using cryptocurrency to obscure transactions and prolong legal proceedings.
In a last-ditch effort during June's trial, Barnes alleged he held $4.7 million in crypto wallets for victim restitution. UK courts now confirm the funds never existed. The case underscores how crypto simultaneously enables and complicates financial crimes, blending old cons with new-tech evasion tactics.
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