A Florida investor has filed a lawsuit against an investment school and a fake exchange, claiming they tricked him out of his funds.
Fraud Scheme
In a lawsuit filed in federal court, Brian Firestone alleges that the Alpha Stock Investment Training Center (ASITC) partnered with a fraudulent exchange named CoinBridge Partners. Firestone claims he was initially approached by a man named John Smith, who posed as a representative of ASITC.
Signal Trading Method
ASITC allegedly used a method called signal trading. According to the suit, 'professors' would send participants exact trading instructions. Firestone's initial investments soared, but a failed trade resulted in significant losses.
Cyber Fraud Data
So far in 2025, over $2.1 billion has been stolen in crypto-related incidents, primarily due to wallet compromises and poor key management. In 2024, phishing emerged as the most damaging attack method, leading to over $1 billion in losses.
Firestone's case highlights the risks associated with investing in cryptocurrency and similar schemes, where fraudsters use manipulation tactics to exploit individuals.
