After losing more than $753,000 in a fraudulent cryptocurrency investment, a North Carolina man who is close to retirement is now waiting to learn how much of that money he may get back.
What happened?
Wesley Marley, who lives in Fuquay-Varina, told WRAL that investigators identified the scheme as "pig-butchering," an international online investment scam in which criminals may spend months earning a victim's confidence before taking their money.
He said the person behind the scam seemed believable, and since the loss, he has spent much of his time trying to determine whether any of his funds will be returned. After he reported the fraud to the FBI, Marley said he was told he could recover about $630,000.
WRAL also cited U.S. Department of Justice data showing that federal authorities recovered nearly $2.5 billion connected to crypto-related cybercrime in fiscal year 2025, compared with $248 million five years earlier.
Experts told WRAL that scammers often favor cryptocurrency because it is the easiest currency to move.
Why does it matter?
The case reflects the complicated reality surrounding cryptocurrency. The technology itself is not inherently criminal, and some crypto operations have been linked to financial innovation. However, the same features that allow for fast, borderless transactions can also be exploited by bad actors.
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Tracking stolen funds is often especially difficult because investigators say scammers may pool money from multiple victims rather than keeping it separate. That can leave law enforcement trying to sort out whose money belongs to whom after the funds have already moved through multiple channels.
Marley said he was told that reporting the fraud quickly made a major difference. "If I hadn't called when I did, or filled that information, they probably would have had the money. All the money would have been gone within another two weeks," he said a federal agent told him.
What can I do?
Officials say reporting suspected fraud immediately can help authorities recover at least some of the money before it disappears entirely.
North Carolina Attorney General Jeff Jackson said overseas cybercriminals can still face legal consequences, particularly when domestic actors help move the money. "There are people who help transmit this once it is in our borders. Those people are absolutely within the reach of our law. If the perpetrator is overseas, there are still ways that we can go after them. There are still ways we can go after the companies domestically that are helping to participate in that crime," Jackson said.
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If you believe you have been targeted by a scam, you can report it through the FBI's Internet Crime Complaint Center at ic3.gov.
Consumers can also better protect themselves by being cautious about unsolicited investment advice, particularly from people they have only met online, and by treating promises of unusually high returns as a major red flag.
Marley said the ordeal "made you lose trust in people." Still, he hopes speaking publicly will encourage others to act faster. "I'm sure there's a bunch of people out there right now … that have been scammed, and they were too embarrassed to report it, and I'll put money on that right now."
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