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Morningstar

Total balance should be $20 million': I invested $1.1 million in a crypto platform. Have I lost it all?

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Total balance should be $20 million': I invested $1.1 million in a crypto platform. Have I lost it all?
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A crypto investor says they put $1.1 million into a foreign cryptocurrency trading exchange after being encouraged by an executive vice president at a major New York investment bank. The investor claims their adviser controlled actions from May 20 to June 30, including directing trades and instructing them on withdrawals, wire transfers, and what to tell their bank, with all messaging via WhatsApp. By June 30, assets supposedly rose to $2 million, with a promised $20 million target by late August. Their banker suspects a scam and the investor reached the FBI’s Internet Crime Complaint Center but received insufficient information guidance.

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