Westport Police Recovers $3 Million Worth of Bitcoin Stolen by Pakistani Scammers

The Westport Police managed to recover $3 million worth of cryptocurrency stolen by Pakistani scammers, following a complaint from a local resident who fell victim to a scam. The victim was persuaded in January 2023 to transfer funds from a retirement account to a “Kraken” cryptocurrency account.

After transferring the funds, between January and March 2023, the victim reported that over $3 million worth of Bitcoin was withdrawn and moved to cryptocurrency wallets they had no control over.

In an official press release (PDF), the Westport Police Department disclosed that their detectives collaborated with the Connecticut State Police Organized Crime Task Force to trace the transactions and freeze all accounts linked to the scam. The trail eventually led to individuals residing in Pakistan, although the likelihood of arrests is minimal.

As Hackread reports, despite the challenges, the Westport police successfully recovered the stolen cryptocurrency. This achievement is significant given the inherent difficulty in tracking and reclaiming cryptocurrencies.