21-Year-Old Investor Loses $1 Million in Bitcoin Swap | Concerns Grow About Ledger Live and CIC
A 21-year-old investor claims to have lost 9.5 BTC, almost $1 million, while using the swap feature on Ledger Live. His call for help shines a light on accountability issues surrounding both Cripto InterCambio (CIC) and Ledger Live as frustrations escalate.
Incident Overview
On June 22, 2025, the investor made a BTC to USDT swap using Ledger Live. Despite fulfilling all KYC requirements, he found that his USDT never arrived. "I have full proof, but now they’re ghosting me," he stated, expressing growing dissatisfaction with the response he received.
Community Reactions
Comments from various forums reflect a mix of opinions:
Some criticized the decision to execute such a large transaction at once, asking, "Why did you swap 9 BTC all together?" This highlights ongoing concerns about risk management among investors.
Others defended the investor, urging for kindness. One commenter mentioned, "If you can’t help him, keep your demeaning comments to yourself."
An alarming sentiment shared is that even smaller test transactions may not prevent issues. A user added, "They’ll let even $1k transactions pass, but the first large transaction might trigger complications with documentation."
New Insights from Recent Posts
Recent comments have shed additional light on similar experiences:
A crypto user shared, "Ledger has knowingly enabled stupidity on a mass scale." They emphasized the trust placed in Ledger Live's integration with CIC, expecting secure transactions.
Suggestions emerged for how to escalate the situation, including filing an IC3 complaint and thoroughly documenting interactions. A comment advised, "Prepare a detailed file with your proof and request an AML audit."
Another user raised the question many are asking: "Why would Ledger even work with them?" This reflects a growing concern over Ledger's partnerships with swap services like CIC, especially with rising complaints.
"Losing 9.5 BTC like this is devastating, and the way CIC and Ledger are handling it is unacceptable," stated a concerned commenter.
Did You Know?
The investor's situation echoes a broader trend in the crypto space where trust in third-party services is being questioned, particularly after notable cases of fund mismanagement.
Key Takeaways
⚠️ Unaccounted Funds: 9.5 BTC remains missing, causing serious safety concerns for investors.
🏦 CIC's Reliability: Incidents like this raise questions about CIC's credibility, sourced from user feedback.
📢 Need for Collected Efforts: The investor encourages others in similar situations to unite and share their experiences for potential collective action.
As the situation progresses, it prompts significant inquiries into the responsibilities of crypto platforms and their partners, with many pushing for accountability and transparency in this space. For additional insights and updates, stay connected with trending crypto news outlets.