Man Lost $160,000 in Cryptocurrency Scam, Police Say

State police say they are investigating a case in which a Williams Township man reported losing $160,000 in an online cryptocurrency scam.

According to a news release from state police at Belfast, the 65 year-old man told troopers he sent approximately $160,000 in cryptocurrency to an unknown person in late February.

Before doing so, police said the man was led to believe the unknown person was “making short-term currency purchases and selling them for a massive profit.”

Police said the case is being investigated as one involving theft by deception.