Scots dad’s warning after losing £100,000 of life savings to cryptocurrency scam

A Scots dad who lost ‘£100k’ of his life savings after falling for a cryptocurrency scam has issued a warning to others.

Mick, who owns the Coffee Lodge in Hermitage of Braid, Edinburgh, shared his story with customers after realising he had been conned. He explained in the last seven years since the Lodge opened, he had been adding to a savings account for his children, Edinburgh Live reports.

Then at the beginning of this year, he decided to invest the money in cryptocurrency – but later made the horrifying realisation he’d lost ‘all of his life savings’.

Posting to Facebook, Mick wrote: “I invested it all in January after doing due diligence on the company so felt safe.”

The businessman then tried withdraw his money, which he was told he had made a good return on, to put down a £35k deposit on a flat – but the money never came.

He added: “It never arrived, after weeks of investigation it was found to be fraudulent, and I tried every avenue has been explored to retrieve it. The point of the post, not sympathy (I’m not that type of person), financial gain, or anything like that.

“I did it. Nobody forced me. It’s just a warning really do not do what I did unless you’re a financial professional.

“It’s ruined the chance of a house for a dad and his kids so be very careful what you do with your money. Anybody can be anybody on the internet.”

Mick has since been overwhelmed by support of his local community and a JustGiving page has been set up by one of his customers.

She wrote: “Mick is the much-loved owner of the Lodge Coffee House in the Hermitage of Braid local nature reserve. He serves the community with a smile and a chat, and the best scones around!

“Devastatingly, he has recently lost his life’s savings due to a financial scam, many of you will have seen his recent post about this huge loss. This money was saved in the hope that it would provide for his children’s home and future security.

“Many people want to help in some small way, and if you can donate anything it would be hugely appreciated. This has understandably been a terrible blow to an honest man who works so hard for his family.

“Even the cost of a cup of coffee will help.”

If you want to support Mick you can go to JustGiving.com.

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