UK Scammer Claims $4.7M in Crypto to Repay Victims

[madmax]

A 69-year-old UK man, Timothy Barnes, pleaded guilty to 34 fraud-related charges after scamming victims out of $2.6 million. In a bizarre twist, Barnes claimed he had $4.7 million in on-chain assets that could reimburse his victims—but investigations proved these claims false. The case highlights how crypto is increasingly showing up in unusual ways in criminal activity, even when most of the underlying crimes are traditional.

[Nahid Hossen]

69-year-old Barnes scammed $2.6M Then tried to claim $4.7M in fake on-chain assets. Crypto popping up even in old-school fraud. ️

[Rimon Khan]

Barnes guilty on 34 fraud charges Bizarre how he mixed classic scams with false crypto claims—shows blockchain’s strange new role in crime.