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 that he met a person claiming to be Carolyn Parker through Facebook at the beginning of 2023, who induced him to invest in NFTs and transfer funds to multiple bank accounts, approximately $4 million of which was transferred to a Citibank account. The lawsuit alleges that Citibank failed to implement adequate security measures and failed to monitor suspicious transactions, especially the inflow and outflow of large round sums of money.