Crime & Safety

Woman, 80, Loses $720,000 In Savings Due To Crypto Scam 'At My Age, I Do Not Have A Second Chance'

The BBB's Melanie McGovern says in a crypto scam victims are often approached on social media. That's how Lin met her scammer.

(CBS4)

March 6, 2024

LOS ANGELOS -- Scams are growing and people are losing more and more money. A new report from the Better Business Bureau (BBB), shows losses increased 27 percent in 2023.

Find out what's happening in Miamifor free with the latest updates from Patch.

One 80-year-old woman, Alice Lin, said she was suicidal after losing $720,000 in savings to a crypto scam.

"I was in shock," Lin said, " and I was thinking to kill myself." The BBB's Melanie McGovern says in a crypto scam victims are often approached on social media. That's how Lin met her scammer.

Find out what's happening in Miamifor free with the latest updates from Patch.

Click here for the full story via CBS Miami


CBS Local Digital Media personalizes the global reach of CBS-owned and operated television and radio stations with a local perspective.