Some cryptocurrency scams might seem comical if they didn’t often result in significant financial losses. This was a painful experience for a man who went to Montpellier to sell his BTC for cash, only to walk away with a suitcase full of counterfeit bills.
He makes an appointment online to sell his BTC
The number of scams lurking in the cryptocurrency ecosystem should not be underestimated. However, most of them can be avoided by following a few basic rules and by not rushing into things—a strategy that often pays off.
In any case, the most significant flaw remains, without a doubt, human error. And this Bitcoin holder certainly wouldn’t disagree, judging by the recent misadventure he just experienced in Montpellier, as reported in the pages of Midi Libre.
Indeed, this citizen of a country bordering France decided to sell his BTC without bothering to go through official, regulated channels, such as a cryptocurrency exchange platform. A decision that would quickly prove more complicated than expected.
According to available information, the transaction reportedly began online, with the exchange taking place in a hotel room located in the capital of the Hérault department. No details of these negotiations are known, but it seems to have been conclusive enough to confirm this unlikely meeting, reminiscent of Bitcoin sales… before 2013.
Bitcoin: A $70,000 Deal That Falls Through
The meeting date is set for October 18. In practice, this involves exchanging the BTC in question—the exact amount of which remains unknown—for a cash payment estimated at 70,000 euros, in a suitcase and apparently in small bills.
Everything seems to be going as planned. It is only a few hours after the buyers leave that the man finally takes the suitcase out to examine his loot. Stupor then gives way to consternation when he realizes that the neatly arranged bills are in fact crude counterfeits worthy of mere photocopies, according to a source close to the case.
But the story doesn’t end there. When the victim realized he had been duped, he immediately called the police to file a complaint. It’s unclear exactly how the man described the events, but it was apparently enough to trigger an investigation into fraud and the use of counterfeit currency.
There is no information indicating whether the original owner of the BTC will also face consequences, given that this transaction far exceeded the legal limit for transactions between individuals, set at a few thousand euros at most.
