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 came to Montpellier to sell his BTC for cash, only to walk away with a suitcase full of counterfeit bills.
He made an appointment online to sell his BTC
Don’t underestimate the number of scams lurking in the cryptocurrency ecosystem. However, most of them can be avoided by following a few basic rules and by taking the time to think things through—a approach that often pays off.
In any case, the biggest vulnerability is undoubtedly human error. And this Bitcoin holder certainly wouldn’t disagree, judging by the recent misadventure he just experienced in Montpellier, as reported in the Midi Libre.
In fact, 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 in the capital of the Hérault department. No details are available regarding the specifics of these negotiations, but they appear to have been sufficiently conclusive to confirm this unlikely meeting—one straight out of the days of Bitcoin sales… before 2013.
Bitcoin: A $70,000 Deal That Falls Through
The meeting date was set for October 18. In practice, this involved 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 seemed to be going according to plan. It wasn’t until a few hours after the buyers had left that the man finally brought out the suitcase to examine his haul. Stunned disbelief turned to consternation when he realized that the neatly arranged bills were in fact crude counterfeits—little more than photocopies—according to a source close to the case.
But the story doesn’t end there. When the victim realized he had been deceived, he quickly 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.
