The founder of Sirin Labs and the creator of the blockchain phone, Moshe Hogeg, lost a lot of bitcoins when trying to make a cryptocurrency transaction.

Hogeg was going to buy Grin coins for bitcoins, however he lost his money by contacting OTC-service for cryptocurrency trading. Communication with the seller of Grin was established through Telegram, and Hogeg tried to coordinate the terms of the deal.

Interestingly, the coin seller was recommended to Hogeg as a “confidant”. At that moment, even having doubted the deal, Hogeg insistently requested the amount of coins that he should have been sent. Hogeg wanted to make sure the seller had the amount of Grin he was looking for.

After the seller fulfilled his requests, Hogeg sent the bitcoins to the specified address, and then waited for his coins to arrive. However, this did not happen! After he had said goodbye to his bitcoins, he never heard anything about this seller and that “confident”.

No one says anything about the exact number of bitcoins lost by Hogeg. However, judging by the post of Hogeg himself on Facebook, the amount was “significant”.

Bitcoin fraud happens every day, but the industry elite “gets fooled” this way rarely. It seems that Hogeg had to take a sufficient number of precautions in this case, and most importantly, to be an example for other users of cryptocurrencies.