WICHITA, Kan. (KWCH) – A Kansas man lost $400,000 in a Bitcoin scam, according to a Better Business Bureau scam report.

He reported the scam to the BBB in May 2025. However, the report stated that the scam occurred in 2023. He said that the scammer posed as a professional broker and convinced him to use a fake online trading platform.

Over three months, the man made 12 transactions totaling $400,000. He used ‘xtbproplatform.com,’ which he believed to be a legitimate trading website.

He reported that he primarily received emails from the scammers, along with occasional phone calls. The Kansan said he noticed red flags after determining that the scammer made all phone calls using a virtual number, which meant that the calls could not be returned or traced.

“I think in confusion when you can cut through the noise and say, ‘you’re telling me this is what my investment will return in a short amount of time,’ that’s all that person really wants to know at the moment,” said Josh Planos with the Better Business Bureau.

Cryptocurrency has few regulations in the United States, meaning there is less protection for investors, and it’s harder to trace and track scammers.

Planos said the safest way to invest in cryptocurrency is to use a professional broker and meet them in person.

Copyright 2025 KWCH. All rights reserved. To report a correction or typo, please email news@kwch.com