Citibank's $ 20 million crypto romantic fraud case
A US investor filed a lawsuit against Citibank, stating that he had suffered a $ 20 million crypto fraud as a result of his virtual relationship with his person on Facebook. The bank is accused of facilitating fraud and ignoring suspicious operations.
Fraud story: from Facebook to love, from love to nft trap
The plaintiff Michael Zidell said that at the beginning of 2023, a woman named “Carolyn Parker ında received a message on Facebook and gained the trust of this person over time. At the beginning, this social relationship soon evolved into the romantic dimension.
A month later, Carolyn advised Zidell to invest on the same platform, saying he won millions with NFT investment. Zidell was directed to a false NFT trading platform called “OpenrarityPro. Then, he sent a total of 20 million dollars to the bank accounts given by this platform with 43 different transactions. However, at the end of April, the site suddenly became inaccessible.
🏦 Citibank charges: “remained indifferent according to the eye”
Zidell, the accounts used by the accounts of about 4 million dollars were transferred to Citibank said that the bank in Manhattan’daki federal court.
According to the complaint petition:
12 Transfer Citibank’s “Guju Inc.” was directed to the account of the company.
The large and round amounts sent were the düşün suspicious transaction signal ”.
Citibank is accused of not following these transactions, not controlling accounts and not taking security measures.
Zidell argues that the bank is obliged to monitor and intervene, that it does not fulfill this responsibility and thus facilitates fraud.
💸 Big Bangs in “Pig Butchering” frauds
This method, called “Pig Butchering” (Pig butcherism), is becoming increasingly widespread, especially in the crypto world. Frauds in this system:
Establishes a long -term confidence relationship,
Develops a romantic bond,
The victim empties his reserve by directing fake investment platforms.
🔍 In 2024, total crypto fraud reached $ 9.9 billion. According to Cyvers, only romantic frauds reached $ 5.5 billion. The US Secret Service announced that it seized $ 225 million this year and carried out the largest crypto fraud operation ever.
🧭 Evaluation: Is responsibility in banks or users?
Zidell’s case brings banks’ responsibility limits, fraud perceptions and control gaps in crypto transactions. In particular, typical risk signals such as large amounts of transfers, round sums and funds flowing from the individual to the company are questioned by financial institutions.
Citibank has not yet made a public statement.
