Florida resident Brian Firestone lost $860,000, becoming a victim of a fraudulent scheme organized by the Denver 'trading school' Alpha Stock Investment Training Center (ASITC) and the fake exchange CoinBridge Partners. According to a lawsuit filed in federal court on June 11, 2025, Firestone was lured by promises of huge profits through signal trading. In December 2024, an ASITC representative, who called himself John Smith, offered cryptocurrency trading training and 'gifted' $500 to get started.
Firestone's initial balance grew to $55,000, prompting him to invest another $50,000. Soon, the account allegedly reached $24.5 million, but a 'system error' during USDT trading wiped out the funds. Firestone took out loans of $1.33 million from ASITC, but the platform closed his account. CoinBridge, which claimed $10 million in investments, turned out to be fake.
This case highlights the risks of unregulated crypto platforms. The lawsuit accuses ASITC and CoinBridge of fraud and extortion. The crypto community urges investors to verify platforms before investing.
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