Wolcott police arrested a New York man for a cryptocurrency scam that defrauded a local resident of $60,000, highlighting the dangers of online fraud.
A 28-year-old man from Flushing, New York, has been arrested by Wolcott police in connection with a cryptocurrency scam that defrauded a local resident of nearly $60,000. The suspect, identified as Xiallong Wang, was apprehended during a sting operation after the victim reported the fraud to authorities.
The victim, a 57-year-old man from Wolcott, was initially contacted via a random text message by a woman who claimed to be Ms. Chen Fung from Los Angeles. This interaction quickly escalated into an online relationship, during which the victim was persuaded to invest in gold through a fraudulent BingX cryptocurrency account.
The victim, believing he was making a legitimate investment, took out loans and made two significant cash transfers:
However, when he attempted to withdraw funds from what he thought was a lucrative account, he was informed that he needed to pay taxes first, leading him to realize he had been scammed.
Upon realizing the extent of his loss, the victim reported the incident to the Wolcott police on December 1. He was visibly distraught, stating that he had not eaten or slept for a week. His emotional state was so severe that police called for an ambulance to evaluate him.
In his own words, the victim expressed, "My life is over. I don't know what to do. My marriage is ruined, my wife hates me, my kids hate me and my parents hate me."
Determined to catch the scammer, the victim resumed communication with the fraudster and arranged for another cash pickup. Wolcott detectives coordinated a sting operation, where they monitored the situation closely.
On December 6, when Wang arrived at the victim's home in a white SUV, police were ready. They had verified the serial numbers of the cash he was carrying against photos sent to the victim, confirming his identity as the scammer.
Wang was charged with several offenses, including:
He was held on a $150,000 bond and is scheduled to appear in Waterbury Superior Court on January 8. Additionally, authorities notified the Department of Homeland Security, as Wang was found to be in the U.S. on an expired student visa.
This case highlights the dangers of online scams, particularly those involving cryptocurrency. Victims are often lured in by promises of romance and financial gain, only to find themselves in dire situations. The Wolcott police's swift action in this case serves as a reminder of the importance of reporting fraud and working with law enforcement to combat such crimes.
