According to Deep Tide TechFlow, on June 26, Cointelegraph reported that a cryptocurrency scam victim, Michael Zidell, filed a lawsuit against Citibank, accusing it of failing to identify risk signals that led to the success of a $20 million scam.
Zidell claims he met a person named Carolyn Parker on Facebook in early 2023, who lured him into investing in NFTs and transferring funds to multiple bank accounts, with approximately $4 million transferred to a Citibank account. The lawsuit alleges that Citibank failed to implement adequate security measures and did not monitor suspicious transactions, particularly the inflow and outflow of large round sums.