How a £1m Crypto Sting on a High-Profile Entrepreneur Exposes the Scams Hitting Welsh Households

Swedish Entrepreneur Erik Bergman says he lost $1.25 million after fraudsters impersonated YouTube star MrBeast and other celebrities. His experience mirrors the tactics now targeting UK pensioners and families, and the steps to stop them are simple, if we use them. Not many pensioners in Carmarthenshire have that kind of money in their bank accounts but in today’s economic turmoil every penny counts whether it is your weekly pension or your nice little earner or investment payout.

A con that could happen anywhere

Erik Bergman, founder of Great.com and co-founder of Catena Media, says his ordeal started with a real outreach about a clean-water fundraiser ‘Team Water’ led by MrBeast and Mark Rober. Weeks later, impostors rode that momentum. They (the scammers not the real celebs) invited him into private chats and steered him into a “can’t-miss” crypto “opportunity.” He transferred $1.25 million. The wallets vanished.

Bergman told Carmarthenshire News Online “This started with Mr. Beast, the world’s largest YouTuber, calling me … and I decided to donate a million dollars to this.”

“It was a totally realistic scenario, which was a big reason why it got me.”

The setup mattered. Team Water is a legitimate creator initiative supporting clean water projects, which made the subsequent outreach look plausible.

The red flags he missed, and why

Bergman says the impostors mirrored the voices of several public figures, referenced past meetings, and paced the pressure. They even sent an assistant-style message that did not immediately say yes to a request, which made the exchange feel authentic.

“They were also not … that pushy. … They did it so skilfully, not pushing anything”, Bergman told us.

He believes some short audio clips came from podcast interviews rather than AI synthesis, but he accepts AI may have helped the criminals match tone and style. That fits today’s landscape, where impersonation and “cloning” scams surged and fraudsters increasingly copy the look, language and staff lists of real firms or creators.

The Same Playbook is Draining UK Households

The tactics in Bergman’s case, celebrity impersonation, private messaging groups, urgency, and crypto wallets, map onto scams now hitting UK consumers, especially older people. UK regulators warn that celebrity-fronted investment pitches are now a hallmark of crypto fraud. Action Fraud and policing partners highlight how fake platforms use social pressure to encourage investment before blocking withdrawals.

In Wales, police forces have flagged a sharp rise in cryptocurrency-related fraud. North Wales Police recently revealed cases including a 78-year-old man who lost £346,000 and a 25-year-old who handed over £8,000 after seeing a deepfake video of Sir Keir Starmer. Officers estimate that scams of this type have cost people in North Wales around £6 million over the past three years.

Carmarthenshire offers another perspective on the scale of attempted fraud. County council investigators prevented an estimated £11 million in fraud losses in 2022–23 and handled more than 2,000 referrals. That same year, their work resulted in 12 prosecutions and six cautions. Trading Standards also brought a case against a rogue trader who defrauded pensioners in Bronwydd and neighbouring Ceredigion. Officials warn that common scams in the area range from lottery and sweepstakes to government impersonation, email phishing and doorstep fraud.

Charities such as the Wales Against Scams Partnership and the Older People’s Commissioner for Wales have warned that pensioners in particular face a heavy emotional and financial burden from these crimes. Victims often withdraw from social life, experience depression, or lose confidence in using technology.

The scale in Wales: What the numbers show

Recent data makes clear that Wales is not immune, several indicators point to significant loss and harm, especially among older generations.

• In the 2023-24 financial year, 3,318 cases of online shopping fraud were reported in Wales, with a total loss of £2,529,017.

• Reports of fraud are not evenly distributed: North Wales police recorded 2,228 fraud cases, with losses of about £1,474,801; South Wales saw 4,091 cases, losses of £2,645,610; Gwent saw 1,808 cases (≈ £976,305 lost); Dyfed-Powys had 1,886 reports with losses around £1,504,280.

• Among those aged 65 and older in Wales, totals are especially alarming. Data covering the past four years show over 12,000 fraud cases against pensioners, with £51.2 million lost. In 2022 alone, over-65s lost nearly £16.5 million, up from £6.8 million in 2021. That works out to about £35,000 lost per day on average.

Who is most affected and how

The data indicates certain patterns in Wales:

• Older people (65+) are particularly targeted. Many reports being approached via calls, texts or emails, sometimes impersonating trusted institutions.

• Recovery is rare: as with much of the UK, many people don’t report frauds or report them too late for recovery. The emotional and reputational impact (shame, distrust, financial insecurity) is significant.

• Loss amounts vary, but even relatively “small” amounts are very damaging, especially for those on fixed incomes, retired, or living in rural areas where access to support is less.

Why Wales faces particular risk

Several factors make Wales especially vulnerable:

• Rural communities with older populations may be more socially isolated, less digitally literate, or less aware of scam tactics.

• Local policing and resources for cyber/digital crime are often less visible in smaller or more remote areas. This can delay response times or reduce awareness of how to report and get help.

The Checklist: Simple Steps That Block Most Impersonation and Crypto Scams

Before you move money, channel-switch to verify. Use a separately sourced email or phone number to confirm any request that arrives via text, WhatsApp, Telegram, or a private “investment” group. Do not reply in the same thread. Check the FCA Register and beware of clone domains. Assume you cannot withdraw, treat any upfront crypto transfer as gone unless proven otherwise. And impose a 72-hour rule. Delayed access protects you from spur-of-the-moment pushes. Bergman notes a delay would have broken the scammers’ timing.

If money leaves your account, tell your bank immediately and report to Action Fraud. UK reimbursement protections for authorised push-payment scams are expanding under the Payment Systems Regulator’s framework, and knowing your rights matters. Preserve evidence, including chat logs and wallet addresses, to help banks and police triage cases.

On your phone, block caller-ID spoofing. Ofcom recently moved to close a loophole criminals used to intercept texts and calls, including one-time passcodes. Keeping devices updated and treating unexpected code requests as hostile can help.

Fraud / Scam: What to Do — Key Contacts & Advice

If you or someone you know has been affected by a scam or fraud, here are trusted services in Wales and the UK that can help: