Citibank Accused of Ignoring Signs of $20.00 million Cryptocurrency "Pig Butchering" Scam
Powered by ChatGPTOn June 26, Cointelegraph reported that Michael Zidell, a victim of a Cryptocurrency scam, has filed a lawsuit against Citibank, accusing the bank of ignoring "red flag warnings" and failing to investigate suspicious transaction activity, leading to the successful execution of a $20.000.000 scam by fraudsters. Zidell claims that he met a person named Carolyn Parker on Facebook in early 2023, who induced him to invest in NFTs and directed him to transfer money to multiple bank accounts. Approximately $4.000.000 of this was transferred into Citibank accounts. The lawsuit alleges that Citibank failed to implement sufficient security measures and failed to monitor suspicious transactions, especially the transfer of large, round-number sums of money. [深潮 TechFlow]