Crime and crime-busting have gone hi-tech! A man from Seaforth has lost $120,000 in a cryptocurrency scam, while in a separate incident, a stolen e-Bike was successfully recovered using an Air Tag.
Cryptocurrency Investment Turns Costly for Seaforth Local
A Seaforth resident has reported a major financial loss after being defrauded in a cryptocurrency scheme. The man enrolled in a legitimate crypto education program in January 2025. Soon after, he was contacted on Discord by a person posing as a trader, who offered automated trading services to help him leverage his new knowledge.
Over the course of several months, the victim transferred more than $120,000 in cryptocurrency to wallets controlled by the scammer. Police received the report on 16 May 2025. Although transaction records are being examined, recovery of funds in similar cases remains unlikely.
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Similar Case in Warriewood Highlights Broader Trend
Earlier in May, a Warriewood man also reported falling victim to a cryptocurrency scam. After being approached on the Signal app in mid-2024, he began investing with a group called Ultra Trade Investments. He initially contributed $500 and was promised substantial returns.
The scheme escalated, with repeated reinvestments and extra fees required to access alleged profits. By April 2025, he had transferred nearly $64,000 before realising he had been scammed. Authorities stressed the importance of verifying that any digital currency exchange is registered with AUSTRAC.
Photo Credit: Pexels
e-Bike Recovered After Theft at Frenchs Forest
In an unrelated incident, a teenager from Belrose managed to recover his stolen e-Bike with the help of an Air Tag. The bike had been taken from Lionel Watts Oval in Frenchs Forest on 17 May 2025. Thanks to the tracker, the owner located it at Forest Way Shopping Centre.
There was no damage to the e-Bike, though the helmet was not found. Police noted this as an uncommon case of successful recovery, made possible by the use of tracking technology.
Published 31-May-2025
