The Founder’s Story: Encounter with a Crypto Scam

Jan 16, 2024 | Testimonials | 0 comments

The emotional effects of the Cryptocurrency Scam are profoundly disturbing. It’s an experience that severely damages one’s confidence and trust and is characterized by strong feelings of loss, betrayal, and self-doubt. This type of fraud damages people’s confidence and destroys their sense of security in addition to causing financial loss. 

It is common for victims to experience doubts about their judgment and battle with the shame of being fooled. In certain cases, the emotional cost can be much greater than the financial one. It’s a personal crisis that makes you doubt your judgment and your capacity to trust other people. 

In this post, I will share my own experience with a crypto scam, exploring the emotional challenges I faced and how this experience became the motivation for creating a supportive community for others – the CryptoScam Defense Network (CDN).

-Sanjay Priye

CDN creator and CEO

Cryptocurrency Scam

My Encounter with a Sophisticated Cryptocurrency Scam

In February 2023, my ordinary day at the real estate agency took an unexpected turn. A new lead came through our registration portal. Like many before him, he was looking for a home with a pool and gave me a budget of 1.2 million. Little did I know, this encounter was the beginning of a journey that would lead me deep into the world of crypto scams.

Our connection was sporadic at first, playing tag through calls and messages. But when we finally spoke, his behavior was nothing but friendly and cordial. He expressed a keen interest in properties from our MLS listings, planning a visit in May to see them with me. Transactions like these were commonplace in my line of work; nothing seemed unusual.

The Growth and Promise

As time passed, our conversations evolved beyond professional exchanges. We chatted, texted, and got more friendly each day. When I inquired about his payment method and profession, he revealed himself as a cash buyer dealing in cryptocurrency options – a field unknown to me. 

Out of curiosity, I asked more, and he offered to show me the basics of crypto trading. It was an attractive proposition. He guided me to a site,, which appeared legitimate. Together, we opened an account and began trading with an initial $600

The numbers on my screen grew impressively. Trust and friendship seemed to bloom between us, and on his encouragement, I invested more.

My account astonishingly grew to $300,000. But this euphoria was short-lived.

The Crushing Realization

A call from another agent, who had lost everything at the same site, shattered my world. She warned me to withdraw immediately. Panic set in. Attempts to withdraw my funds hit wall after wall of excuses. 

woman looking at a graphics on the laptop

The Devastating Results

This experience was not just a financial blow; the emotional damage was immense. I felt violated, betrayed, and utterly heartbroken. We tried everything – contacting the legitimate site Stormgain, and reaching out to exchanges that we used to fund our wallets, but to no results. Moreover, none of them knew anything about it.

The site, crashed on August 24, 2023, and was taken down due to our complaints, only to resurface under a different name,  but I was never able to pull up my account or find my money.

A Month of Despair

August 2023 was a month of tears, a reflection of the worst year of my life. The realization of being fooled by someone I considered a friend was soul-crushing. It was a devastating blow, the worst year of my life.

The Road to Recovery and Empowerment

But in the middle of this despair, I found the strength to rise. After many sorrowful days, where I beat up on myself and thought of myself as stupid, inept, humiliated, demoralized, a complete idiot, I woke up and jumped into full-on massive action.

I stopped blaming myself and started seeking help from knowledgeable and supportive individuals. It was a journey of learning, of understanding that I wasn’t alone in this trauma. I started looking for people who had more knowledge, advice that did not put me down, and people who would genuinely be in a position to help me. 

One of those people said:

  • “First of all, know that you are a victim, and these people are ruthless in their approach. You are not alone. We can try to help, but you have to come to grips with the possibility that you will never recover your funds”

Seeking Justice and Building Trust

I connected with victims, heard their stories, and shared their pain. It was a harsh reality – many had lost their savings, their self-esteem, and their trust in others. 

I searched and found good people who helped me, but I also encountered additional scammers claiming they could recover my money—further victimizing me in the process.

My research led me to several trustworthy individuals, whom I will introduce over time. These are people I still work with today, whose advice and authenticity I deeply trust.

The journey hasn’t been easy, and I have yet to recover my funds.

During this challenging process, I filed paperwork with the appropriate agencies to start taking action. I am ready to share everything I’ve learned with you. It’s through these efforts and encounters that I realized the need for a broader support system, one that could extend beyond my personal journey to aid others facing similar challenges.

cryptocurrencies and laptop screen

CDN: A Community of Support and Awareness

The CryptoScam Defense Network (CDN) was born as a community for those scammed in the crypto world. It’s more than a platform; we share stories, and resources, and support each other. It’s a collective effort against a growing financial crime.

I plan to create a video and share it on YouTube. Admittedly, I am still grappling with the idea of people learning about how I was scammed. I am sure you can understand the emotions involved in this.

Join the Fight: You Can Make a Difference

I invite you to join CDN. If you have expertise in Blockchain technology, website URL construction, ledgers, transaction hashes, recognizing fake sites from real ones, law enforcement, psychology of pressure tactics, tax experts, or lawyers, reach out to me and try to help all of us who found ourselves in this situation. 

I would love to see you make comments and give advice in our forum.  Share your story, send your email anonymously to, and help us build a neighborhood watch for the cryptocurrency world. Together, we can fight against scammers. Alone, we are vulnerable but united, we are a force. 

This is my journey, but it’s also an invitation. Become a part of CDN. Let’s turn our experiences into a beacon of hope and a shield against deception.


Falling victim to a cryptocurrency scam is a deeply impactful experience, both financially and emotionally. It shakes the foundations of trust and self-confidence, leaving a lasting mark. However, through sharing my story and learning from this struggle, I’ve discovered resilience and a renewed purpose. 

This journey has highlighted the importance of awareness, support, and community in navigating the complex world of cryptocurrency and rebuilding trust after being scammed.

Photos via Pexels