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“I am on Universal Credit Now “: Former Teacher After Losing £120k in Bitcoin Scam

A resigned teacher was conned out of her £120,000 life savings in the wake of succumbing to a Bitcoin scam on Instagram.

63-year-old Teresa Jackson, from Portishead, says she’s been left guaranteeing Universal Credit in the wake of being fooled into giving over her money.

Retiree scammed out of £120K life savings in instagram bitcoin scam @ITV News

The retiree recognized the false Bitcoin venture plot – which guaranteed it had been embraced by survival expert Bear Grylls – being promoted via online media.

Ms. Jackson says then she was contacted by somebody professing to be a financial advisor who gave off an impression of being “really knowledgeable” and convinced her to invest her cash.

In any case, rather than purchasing and exchanging what she thought was Bitcoin, the former teacher was rather sending her cash directly to fraudsters.

bitcoin
Teresa Jackson was duped into giving over her life savings subsequent to succumbing to a Bitcoin trick ( image credits :  ITV News )

When she understood she had been tricked, she had lost her pension pot alongside cash she had borrowed from a friend.

Addressing ITV News, Ms. Jackson said “everything appeared to be certified” and she had checked the agreements of the site, which were “very well worded”.

She said: “He just knew it all there was to think about Bitcoin and investments.

“I used to proceed to check all that he said.”

Ms. Jackson has since gotten half of her funds back from her bank. Yet says she was unable to get the full amount back as she had intentionally made the choice to move her money.

She currently needs to claim Universal Credit because of the misfortune.

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The retired teacher thought she was investing in Bitcoin ( image credits : coinkolik.com )

Ms. Jackson proceeded: “I felt embarrassed and stupid… my family believed me to understand what I was doing.”

Tragically, Ms. Jackson isn’t the only one to be scammed out of her money. Citizens Advice says 36 million adults have been targeted by scammers since January.

Over-55s are well on the way to be focused on. And also those over 34 and under are almost nearly five times bound to succumb to a trick as charity found.

More younger people were well on the way to be targeted by text or messaging services (61%). And those who are more than 55 were destined to be targeted over the phone (73%).

Citizens Advice and the Consumer Protection Partnership have launched their yearly Scams Awareness campaign this week to aware people of the tactics fraudsters are using to trick individuals out of their money.

Lady Clare Moriarty, chief executive of Citizens Advice, said: “Our research shows that when it comes to scams anybody can be focused on, and anybody can be tricked.

“It’s more important than any time in recent memory we as a whole do our bit to report scams when we see them help secure ourselves as well as others. By figuring out how scammers work, and assisting each other with understanding what to pay special mind to, we can all work together to leave fraudsters speechless.”

A representative for Facebook, which claims Instagram, said: “We don’t need fraudulent activity on our platform and have built technology to finds and reject scam ads and block scam advertisers so that individuals don’t run over them.

“This is an industry-wide issue and keeping in mind that no implementation is great, we will continue to invest in new ways to protect people from this activity on our platforms.

“We have likewise donated £3million to Citizens Advice to raise awareness of online scams and help victims.”

What to do if you’ve been scammed?

If you’ve succumbed to a trick, report it to Action Fraud on the web or by calling 0300 123 2040.

Its telephone lines are open Monday to Friday 8am – 8pm.

You should also tell your bank promptly. The sooner you advise them, the more possibility they have of leaving the fraudster speechless.

At long last, report fraudsters to the platform they used to reach you.

Have you fallen victim to a Bitcoin scam? Let us know.

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