COBB COUNTY, GA – Georgia Attorney General Chris Carr today announced that his White Collar and Cyber Crime Unit has seized and returned cryptocurrency to a victim of an investment scam in Cobb County.

Just last week, Carr announced the seizure and return of cryptocurrency to elderly fraud victims in Oconee County. These victims were targeted through a fake bank-breach alert and deceived by a scammer impersonating the FTC into depositing their money into a cryptocurrency kiosk. 

“Our White Collar and Cyber Crime Unit is taking action to address the real and evolving threat of crypto scams, and this is just the latest example,” said Attorney General Chris Carr. “Alongside our partners at GBI, we’re shutting down these criminal schemes and, most importantly, we’re returning stolen funds to hardworking Georgians. Our team is on the frontlines of this fight, and we’re not letting up anytime soon.”

The Georgia Bureau of Investigation (GBI), in partnership with Operation Shamrock, a non-profit resource for victims of cryptocurrency scams, investigated this case and coordinated with the Attorney General’s White Collar and Cyber Crime Unit to recover the stolen crypto and return it to the victim. 

"Fraudsters continually devise new methods to exploit victims' trust, and cryptocurrency investment schemes remain among the most financially devastating,” said GBI Director Chris Hosey. “Cryptocurrency scams are designed to exploit trust, urgency, and the promise of easy financial gain. Partnerships across local and state law enforcement serve a critical role in tracing illicit funds, identifying perpetrators, and recovering stolen assets whenever possible. Victims are strongly encouraged to report such incidents to local law enforcement.”

Case Summary

The perpetrator reached out to the victim on social media claiming to have mutual acquaintances. They communicated for some time before the perpetrator introduced the victim to an “investment opportunity” on a fake crypto trading platform. This platform showed the victim fake returns on the investments. Everything appeared legitimate to the victim and even allowed for a modest withdrawal of funds, lending credibility to the trading platform.

After the victim deposited hundreds of thousands of dollars, the fake trading platform indicated that all of the funds had been lost, and the perpetrator told the victim that the investment was gone. The GBI was able to trace a significant portion of the victim’s funds to a crypto exchange and Carr’s White Collar and Cyber Crime Unit, along with the Investigations Section, assisted with the seizure and securing a court order to return the stolen cryptocurrency to the victim.

Avoiding and Reporting Cryptocurrency Scams

On July 1, 2026, Governor Kemp signed HB 945 into law to create several financial exploitation protections, including a provision that virtual currency kiosks display a warning that states: LOSSES DUE TO FRAUDULENT OR ACCIDENTAL TRANSACTIONS MAY NOT BE RECOVERABLE AND TRANSACTIONS IN VIRTUAL CURRENCY ARE IRRVERSIBLE.

If you are the victim of a scam and sent cryptocurrency, report the crime with as much detail as possible to the following entities:

The FTC has shared the following information to help consumers avoid cryptocurrency scams: 

  • Only scammers demand payment in cryptocurrency. No legitimate business is going to demand you send cryptocurrency in advance – not to buy something, and not to protect your money. That is always a scam.
  • Only scammers will guarantee profits or big returns. Do not trust people who promise you can quickly and easily make money in the crypto markets.
  • Never mix online dating and investment advice. If you meet someone on a dating site or app, and they want to show you how to invest in crypto, or ask you to send them crypto, that is a scam.

Members of the public are also reminded that government officials will never contact you to ask you to move money out of your bank account.

For additional tips on how to recognize and avoid common elder fraud schemes, visit the Attorney General’s Consumer Protection Division website.

Contact

Communications Director Kara (Richardson) Murray

[email protected]

Contact

Communications Specialist Lauren Read

[email protected]