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The investigation began in May when Westport Police detectives received a report that a resident had fallen for the scam.
The victim told detectives that in January they were convinced to move money from a retirement account into a “Kraken” cryptocurrency account, said Lt. Eric Woods, of the Westport Police.
The resident reported that between January and March, over $3 million worth of Bitcoin was withdrawn and transferred to cryptocurrency wallets that they did not control.
Working alongside the Connecticut State Police Organized Crime Task Force, the Westport Police Detective Bureau was able to track the transactions and effectively freeze all accounts associated with this scam, Woods said.
Ultimately these accounts led to individuals living in Pakistan, Woods added.
"Although arrests are highly unlikely in this case, Westport Police are proud to announce that our Detective Bureau was able to recover 3.2 million dollars which has been returned to the victim," Woods said.
The sergeant said the department is highlighting the case to show the good work of the Detective Bureau but also to remind residents to be cautious with the ever-changing financial scams.
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