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Game Show Winner Loses $39K in Bitcoin Facebook Scam

A former winner of Deal or No Deal has lost nearly $40,000 after a bitcoin investment company turned out to be a Facebook scam.

By Sebastian Sinclair
Updated Sep 14, 2021, 9:45 a.m. Published Aug 18, 2020, 9:01 a.m.

A former winner of the game show Deal or No Deal has been scammed out of his retirement savings after investing in bitcoin through an ad on Facebook.

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  • According to a Daily Record report on Tuesday, Scottish retiree Graeme Garioch was defrauded of £30,000 (US$39,400) by a phony investment company.
  • The former railway worker, who appeared on Deal or No Deal in 2007, clicked on a Facebook ad from a company called OMC Markets.
  • Interested in investing ahead of his retirement, Garioch agreed to invest after speaking to a company representative who claimed they were in London but were actually based in Bulgaria, according to the report.
  • Garioch deposited a total of £29,000 (US$38,090) into a bitcoin wallet and signed a waiver denying him access to his funds for six months.
  • The scammers also convinced Garioch to give them access to his bank account, supposedly so they could make bitcoin trades on his behalf.
  • After doubling his money, Garioch tried to pull out his funds in March 2019 but was told he needed to pay a further £6000 (US$7,880) in fees; Garioch complied.
  • Shortly after, Garioch's funds were completely drained and OMC Markets ignored Garioch's email requests demanding an explanation.
  • "Facebook needs to do more," Garioch said who was planning on buying a house with his investment earnings. "You cry inside."

See also: Google, Twitter and Facebook Face $600M Lawsuit Over Crypto Ad Bans

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