A Florida man has filed a lawsuit against a crypto trading school, claiming he lost nearly $860,000 due to a fraudulent scheme.
Details of the Lawsuit
In a lawsuit filed in federal court, victim Brian Firestone claims that the Alpha Stock Investment Training Center (ASITC) in Denver was partnered with a fraudulent crypto exchange known as CoinBridge Partners. Firestone stated that he was first approached by a man named John Smith in December.
Mafia’s Strategy
Smith offered Firestone tutoring in crypto trading, luring him with a $500 gift. The school directed students to execute trades on CoinBridge, which claimed to have raised $10 million from 600 investors. Firestone found that CoinBridge was a fake establishment masquerading as a legitimate exchange.
Losses and Consequences
Firestone's initial $500 investment quickly rose to $55,000. However, his balance began to dwindle, leading him to borrow another $330,000 from ASITC, ultimately losing $860,000. He accuses ASITC and other involved parties of fraud and theft.
Firestone's lawsuit highlights the ongoing issue of fraud in the cryptocurrency sphere, as over $2.1 billion has been stolen in various crypto-related incidents since the beginning of 2025.
