INSUBCONTINENT EXCLUSIVE:
Citibank has been sued by a self-claimed victim of a crypto romance scam, alleging the bank ignored red flags that allowed scammers to make
bank.Zidell said he sent $20 million to scammers through dozens of transactions across multiple banks, including nearly $4 million to
accounts they held at Citibank.The complaint said the transactions were part of an elaborate romance scam, commonly called pig butchering,
where scammers use a fake persona to build a romantic online relationship with a victim, using it to entice them into a fraudulent
doing so and directed him to a trading platform.Zidell decided to invest in the NFTs and made transfers to various bank accounts given to
him by the trading platform
the allegedly fraudulent platform, OpenrarityPro, over $20 million
Source: CourtListenerHe said that over the next few months, he sent 43 transfers totalling over $20 million to various bank accounts, but by
claimsThe complaint accused Citibank of processing 12 transfers totaling around $4 million that went to a company called Guju Inc.It also
to detect clearly suspicious transactions and failed to monitor the accounts even though large, round sums were transferred in and out of
stole over $5.5 billion across 200,000 identified cases, security firm Cyvers told Cointelegraph in February.Pig butchering losses by
Source: CyversChainalysis estimated in February that all types of crypto scams stole around $9.9 billion in 2024, but that could rise to
seized $225 million tied to pig butchering scams this year in an operation led by the Secret Service, in what was the largest crypto seizure
