EAU CLAIRE, WI (WTAQ) - An Eau Claire man has lost $150,000 worth of bitcoins -- a digital currency, traded in a peer to peer network.
Software engineer Jamie Russell tells the Eau Claire Leader-Telegram he transmitted just over 200 digital bitcoins to David Williamson of the United Kingdom -- but he never received the 190 physical bitcoins that Williamson promised him. The two met on a bitcoin Web site, and had been in contact with each other for more than a year.
As it turned out, others trusted their bitcoins to Williamson -- and were scammed as well. Russell reported the fraud to foreign authorities, who told him to report the theft to Eau Claire Police -- which he did in late December.
The Leader-Telegram said Russell first invested in bitcoins in 2012, when they were worth $5 a coin. Now, they're said to be worth over $800 apiece.
He has physical bitcoins in a safe place outside his house -- and he wanted to turn in his digital bitcoins because he was concerned about their security.
(Story courtesy of Wheeler News Service)