A Washington, D.C. resident recently lost $30,000 to a sophisticated cryptocurrency scam, highlighting the growing threat of online financial fraud. Federal authorities revealed that this victim is one of several targeted by criminals posing as credible investment advisors, urging people to act with caution.

In this case, scammers built trust with their target using seemingly harmless text messages before recommending investments in what appeared to be a legitimate trading app called LME. Misled by promises of quick profits, the victim transferred cryptocurrency to the platform—only to later find themselves unable to access their funds. While the platform simulated successful trades and even allowed small withdrawals to reassure the victim, the scammers ultimately locked them out and vanished with their money.

The Justice Department and FBI are actively investigating these fraud cases. Scammers behind the LME Crypto Group and similar schemes have stolen over $868,000 from at least four victims across several states in recent years. They have yet to be caught, and authorities warn that these criminal groups remain active.

Officials urge anyone approached with unsolicited investment opportunities—especially those involving cryptocurrency—to verify the legitimacy of the offer and report suspicious activity. Victims of cybercrime can seek help through the FBI’s Internet Crime Complaint Center. Protecting yourself begins with skepticism and research before investing online.