What happened to Joe A. from Shelton, Connecticut?

Joe A. lost his entire life savings of $228,000 after falling for a fraudulent crypto investment scheme that promised quick and easy returns.

How much money have cybercriminals stolen from Americans in the past 5 years?

According to the FBI, cybercriminals have stolen more than $50 billion from Americans in just the past five years.

What advice does the article provide to protect against these AI-powered scams?

The article recommends verifying the legitimacy of any investment opportunity, scrutinizing promises of high returns, and seeking professional financial advice to avoid falling victim to these predatory schemes.

Home / Technology / Seniors Lose Thousands in AI-Powered Crypto Scam

Seniors Lose Thousands in AI-Powered Crypto Scam

10 Nov

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Summary

FBI warns of AI-powered scam targeting seniors
Victim lost $228,000 in crypto investment scheme
Authorities say recovery of lost funds is unlikely

Seniors Lose Thousands in AI-Powered Crypto Scam

According to a recent report, cybercriminals are leveraging advanced AI technology to prey on vulnerable seniors with enticing crypto investment scams. In one heartbreaking case, a man named Joe A. from Shelton, Connecticut, lost his entire life savings of $228,000 after being lured into a fraudulent scheme.

Joe's story serves as a stark reminder of the growing threat posed by these sophisticated online frauds. In August 2025, he received a message from a company calling itself "ZAP Solutions," which promised him a staggering $368,000 return on a $30,000 investment. Believing the professional-looking pitch, Joe proceeded to wire every penny he had, including his 401(k) and IRA funds.

However, the scammers quickly tightened their grip, demanding more money to "reactivate" his account. By the time Joe realized he had been duped, it was too late - he had lost it all. His mother, Carol, was devastated upon learning of the devastating financial impact on her son.