According to a report by 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 a $20 million scam being successful.
Zidell claims that he met a person named Carolyn Parker on Facebook at the beginning of 2023, who induced him to invest in NFTs and transfer funds to multiple bank accounts, of which about $4 million 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 transfers of large round amounts of money.