Michael Reinecke, a retired Australian police officer, reported that he lost nearly 40 million Thai baht (about $1.2 million) to a crypto scam in Thailand on July 18, 2025. Despite his expertise in spotting deception due to a 30-year career in law enforcement, Reinecke was ensnared by a con artist named Alex, who posed as a crypto investor. Their relationship began online and progressed to in-person meetings where Alex showcased false investment opportunities with promised returns of 5%-10% monthly. After Reinecke invested his life savings, Alex claimed the cryptocurrency platform had crashed due to theft after losing his phone, subsequently disappearing. Reinecke's experience underscores how even seasoned professionals can be deceived, particularly as retirees are often targeted for their attempts to secure savings. The article outlines methods used by scammers, including social engineering and false high-yield promises, and offers advice on avoiding such scams, highlighting the need for ongoing education in cryptocurrency investments.

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