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How a Dallas couple found themselves on a fake billboard in Facebook crypto scam
One day in late January, Kelly Denise Mitchell posted to Facebook. “Are you tired of working a 9-5? Do you want to retire wealthy?” The post was on the long side, but the part that stole attention was the picture: a massive billboard of Mitchell and her husband, Sean Garman, lording over a highway at dusk. “Trade with Kelly Denise Mitchell,” the billboard read, beside a photo of the couple looking like they’d just won the lottery.
Kelly Mitchell and Sean Garman are what you might call tastemakers. Successful, connected, ambitious. Married since 2006, they run an architecture firm in Dallas that has shaped the look of many popular spots in Dallas, including the Italian restaurant Nonna and the French-inspired Boulevardier (recently departed, much mourned). They’ve designed eye-catching modernist homes, chic cabanas for the Omni Las Colinas Hotel, and a bookish gift store for Plano’s Legacy West shopping center with the Instagram-friendly name, Read Between the Lines.
At 58, Kelly is the kind of go-getter whose designs have graced many a photo spread. She’s been name-checked by Texas Monthly and D Magazine. Back in 2010, she spoke to Architect magazine about sustainable homes, sharing tips about recycled terrazzo surfaces and how eco-friendly can still be affordable. In 2020, when the Dallas chapter of the American Institutes of Architecture named the couple’s company, Mitchell Garman Architects, firm of the year, the announcement featured a darling photo of Kelly and Sean, holding hands and smiling at the camera. Kelly wears knee-high black boots with a green knit dress that could be vintage or designer; she just looks cool.
Dallas architect Kelly Mitchell poses for a portrait with her husband Sean Garman, on Friday, July 26, 2024, at their office. The couple runs a design firm together. Earlier this year, Kelly’s Facebook page was taken over by a hacker who began promoting crypto currency.(Shafkat Anowar / Staff Photographer)
So the idea of Kelly and Sean on a Dallas billboard wasn’t insane. Our highways are dotted with oversized images of local success stories: Real-estate guru Rogers Healy, sports broadcaster Mike Rhyner, Mint Dentistry’s Field Harrison, looking like James Bond in a white tux while assuring us he makes sexy teeth. Why not Kelly and Sean?
“If anyone can make crypto work, it’s those two,” thought a friend who had stumbled onto the post one morning. Kelly and Sean were forward thinkers, the kind of power duo who clink glasses at mixers for architectural and design forums and fell in love with Marfa long before The New York Times made it hip.
Another friend also found the billboard plausible. We’ll use her initials, J.K. She was retired, but the idea of being wealthy in retirement did appeal, because why not? The billboard is what struck her. “Wow, that’s really cool,” she thought. “I don’t drive through Dallas a lot, but I’d like to see that.”
J.K. didn’t want to use her full name for this story, by the way; to publicly claim you’ve fallen for a scam adds embarrassment to an already embarrassing encounter. Earlier this year, when a New York magazine writer confessed to losing $50,000 in an Amazon scheme, she became the target of such rabid scorn on Twitter, you’d think she was the person behind the scam, not the hapless victim.
J.K. wasn’t super-close with Kelly, who was connected to about 1,200 people on Facebook. The two of them weren’t technically friends, in other words, but they knew each other through Sean’s mother.
“I may be interested,” J.K. wrote to Kelly through Facebook Messenger one afternoon. “What is the ROI?”
She had several exchanges through the blue rectangle bubbles of Facebook Messenger, making the reasonable assumption that the person responding to her was Kelly. That person explained the ROI, or return on investment, was quite spectacular. 525% profit within two weeks.
A screen capture in January of 2024 of Dallas architect Kelly Denise Mitchell’s Facebook feed after a crypto scammer took it over. The photo was actually from Kelly and Sean’s wedding at the Sons of Hermann Hall.(Christopher Wynn )
How reality got confusing
Crypto is cryptic: What it is, how it works, why it matters. I fall into the vast category of folks who politely turn away when the subject turns to crypto, which happened a lot during the early years of the pandemic. I spoke with Business reporter Irving Mejia-Hilario, who has covered cryptocurrency for The Dallas Morning News (often attached to the likes of Mark Cuban). Mejia-Hilario described an often volatile and largely unregulated market whose nonphysical currency operates outside traditional banking institutions. “Transactions are all completed online through what’s called ‘the blockchain,’” he said, going on to explain that thousands of cryptocurrencies trade across more than a thousand individual blockchains, all of which sounded like chaos to my liberal-arts brain.
What’s apparent to even those of us who don’t understand cryptocurrency is we live in a world of transition: Old ways are disappearing, new modes swiftly rising to shape how we live. Consider Facebook, which began in Mark Zuckerberg’s dorm room as a “hot or not” game and was now the primary way J.K. connected to the world: her son, her son’s friends, her running group, where members posted plans to a chat each day. Meet at the lake at 6am, that kind of thing.
Facebook has been rebranded as Meta, but good luck finding someone who calls it that. When I asked J.K. how often she went to the site, she laughed. “A better question would be when do I not use Facebook,” she said. At 78, she is one of 3 billion people globally who have joined the platform, and among the 65+ demographic, the users are often quite devoted. It’s not accurate to say “Facebook is for old people,” but according to the AP, 60% percent of seniors log in at least once a day.
Facebook scams are so commonplace, investigative journalism has mostly given up covering them. Yes, there are bad actors out there, much like emails often arrive with rogue links to websites that can consume your data: Why? How? Who? Unclear. The Internet age we’ve been living inside for more than two decades never came with an instruction manual, and our virtual space has a billion little rabbit holes, digging into one of them rarely makes sense.
J.K. knew the experience of getting friend requests from people she’d already friended, or random messages from a long-lost relative who, after 10 years, pops up to say “hi.” Someone in J.K.’s friend circle sends her Facebook reels every day, and she can’t figure out if it’s a bug, or the guy was hacked, or he has vastly overestimated her interest in viral videos.
So she was growing suspicious as she went back and forth. “Formidable profit” was the stilted phrase this version of Kelly kept repeating. J.K. asked a question the actual Kelly Mitchell would know. What was the name of her mother-in-law? And that’s when the ruse came to an end.
The answer, as J.K. describes it, was “Gobbledygook.”
She never lost money. She lost trust.
“Have You Been Hacked?”
The real Kelly Mitchell had no idea this was happening. She hadn’t been to Facebook since June 2023, when she tried to log in one day and could not. She was more of an Instagram user, but she used Facebook from time to time to stay connected. Was she invited to any parties? Any interesting events coming up?
The lock-out was annoying. She tried a few days later, but same problem. She couldn’t change her password, which was weird. Eventually she reached out to friends to find out what they could see, and the bizarre part is how her page seemed to have disappeared. She’d been untagged from photos. She didn’t show up in friend lists. “It’s like I never existed at all,” she said.
Dallas architect Kelly Mitchell poses for a portrait, on Friday, July 26, 2024, at her office in Dallas. She runs a design firm with her husband Sean Garman. Earlier this year, her Facebook page was taken over by a hacker who began promoting crypto currency.(Shafkat Anowar / Staff Photographer)
This was clearly a problem, but also a headache to figure out. “I’m not the most technically minded person,” Kelly explained, and so she did what many of us do when confronted with any of the million micro-confusions of a digital age. She ignored it. “I’ll deal with this later,” she told herself, but she never did — until January when her phone started blowing up. One message, five messages, the same message.
“Have you been hacked?”
Well, yes, she had, but a long time ago. What she came to understand, however, is this particular morning her Facebook page had been seized to promote crypto currency. A friend sent her a screenshot of the billboard, and she recognized the picture: A wedding photo, she and Sean smiling in that radiant way that cannot be manufactured.
I asked Kelly what she knew about crypto. “Nothing,” she said with a laugh.
She told all this to Sean, who was equally befuddled. Sean had a Facebook page, but he hadn’t been to the site in more than 15 years. The account was attached to a former work email, which he needed to change the password, so he let the page lay fallow.
The billboard was clearly Photoshopped. The sloppy cut around the image, the cheap sans-serif font, the corny B in the shape of a dollar sign. Kelly and Sean are the kind of aesthetes who labor over tiny details in an architectural design, could anyone possibly believe this was real? The highway in the billboard photo had palm trees — what Dallas highway was that? — but Facebook courts our attention at half-mast, and people did believe it.
Dallas is an image-based town. The status cars that clog Central Expressway, the manicured lawns in coveted neighborhoods, the logos on purses and shirts seen at shopping malls all betray a city with more than a stab of insecurity about wealth and status. Kelly wasn’t that embarrassed, though, because the ordeal was unfolding in a virtual space she couldn’t access, which sort of felt like it wasn’t happening at all.
But the fake Kelly kept hawking opportunity on her timeline. “Are you investing in Crypto? Send a dm to know more on how you can start earning,” read a post next to a picture of a certificate of completion from The Academy of Financial Trading (one out of five stars on the Better Business Bureau website). Another featured a hand reaching into a cloudy sky with words across the image: “Faith is your positive response to what God has already done.”
Texts and messages coming to the real Kelly were growing more urgent. This had gone from something that happened to her to something she needed to do something about. People could fall for this scam. Fix this, people told her. But how?
Facebook does not have a phone number, in case you’re one of the many frustrated users who have tried to find one. Customer service for 3 billion could not be easy, but the levers on the machine are quite disorienting. This page, that button — was anyone even on the other side?
The advent of Facebook account takeovers
If you search Facebook for the business name featured on the crypto billboard, you find similar posts.
“Check out this incredible success story!” reads a post from September 2023 by a father in Georgia. “One of my students just scored an amazing $258,927 profit using my trading platform.”
A pastor’s wife named Tonya posted a billboard similar to Kelly and Sean’s, an official-looking photo of her next to a big-money brag. “Can I get your autograph?” reads one comment. “You’re famous now.” (The page has since been removed.)
In Canada, a woman named Lisa Lowery watched as her Facebook page was hijacked by someone selling goods that purported to be from the real Lisa, according to a May 2024 story from CBC News that referred to these scams as “Facebook account takeovers.” The fake post featured photos of a truck, a golf cart, and an ATV along with a caption that began, “Hey all, we are clearing out items from my Dad’s house (he got moved to aged care).” Lisa’s friends were swindled out of $2,500 trying to buy items that never existed, as the real Lisa reached out to Facebook to no avail.
Amazon and Tesla have also been victims of fake crypto scams. “You can participate in the birth of Amazon Token and be one of the first buyers,” read an ad with a picture of Mark Zuckerberg. An article in The Markup suspected the account takeovers actually stemmed from strict rules put in place for cryptocurrency ads in 2022. With so many barriers to advertising, the best way to sell a questionable product became spreading it from friend to friend.
Related:Crypto scams are becoming more common on social media. Here’s how you can protect yourself
It’s yet another way social media, with its promise to unite us, has unwittingly turned us against one other. Whom can we trust? What’s even real? “Pig-butchering” is the industry term for these scams, a blunt phrase to describe fattening a pig before slaughter, according to a story in ProPublica. The technique began in China, then blasted across the globe during the pandemic, leaving damage in its wake.
We want to believe. It’s no coincidence that scammers proliferate on Tinder and other dating sites. Money, love, prosperity. We dream of a better future. Hope is what keeps us going, though blind hope can be easily exploited by con artists.
The resilience of Facebook, the reason people return to the platform despite its many pitfalls, is the opportunity to show up for our friends. Our desire to be connected can lead us toward danger, yes, and it can also lead us back to each other.
Kelly’s friend William Baker saw the crypto billboard. Baker also studied architecture, one half of the design firm JonesBaker, and he was close enough to the actual Kelly to spot the fake.
He went to Facebook to alert the others. “Y’all, if you’re friends with Kelly Mitchell, her account has been taken over by nefarious hackers. She is NOT starting a new career in cryptocurrency. She’s still an architect!” The comments quickly filled with relief and gratitude for the clarity. As a mutual friend put it, “I was like wtf??”
I reached out to Facebook’s parent company, Meta, but did not get a response to multiple emails requesting comment.
Kelly got the posts taken down eventually. She found a contact on the site and verified her identity with a scanned copy of her driver’s license. When I asked her to retrace this step-by-step, the process had faded to a bureaucratic blur, a memory she’d rather forget. About a day after she made the report, her Facebook page had been taken down. But not long after that, scam posts started appearing once more (“And she’s baaack!” a friend texted her), and Kelly had to go through the process all over again. The page is currently down; the scam appears to be done. But is it?
“It’s a little creepy that they have access to all my photos and my history on Facebook, which I completely lost, and that’s upsetting,” Kelly told me. Kelly and Sean were married at Sons of Hermann Hall. The photos had been taken in a makeshift booth, a happy memory that now has a darker story attached, the way a house can look different after someone has broken in, a reminder that we are all vulnerable. But unlike a real-life burglary, the data taken from Kelly had an uncertain value, an uncertain future. “Who knows what other information they have …” She began the thought and trailed off, but her husband completed the fear:
“Or what they’re doing with it,” Sean said.
A contemporary residence designed by Kelly D. Mitchell was showcased on the 2009 American Institute of Architects Dallas Home Tour. (Charles Davis Smith / Digital File_UPLOAD)
Kelly and Sean had plenty of other projects to keep them busy. Last October, they completed the design for Renny’s Bar & Grill in Preston Forest Village, an American bistro by Mark Maguire with a groovy speakeasy attached called The Stache. They’re working on two penthouse condos in a Turtle Creek high-rise and the renovation of a motor lodge in Fredericksburg.
Kelly’s off Facebook. She doesn’t really miss it; there are so many other ways to stay in touch with friends. It’s the outer ring, as she calls it, the periphery of people you may not text with but still matter in your life. How are they doing? Is everyone OK?
“I’ve thought about creating a new account for myself,” she said, and then paused. “But I haven’t done that yet.”
Related:Crypto scams are becoming more common on social media. Here’s how you can protect yourself
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Cryptocurrency Price August 1: Bitcoin Dips Below $65K; Solana, XRP Down Up To 8%
Major cryptocurrencies fell in Thursday trading following the Federal Reserve’s decision to keep its key interest rate unchanged. Overnight, the U.S. Federal Reserve kept its key interest rate at 5.25-5.5% for the eighth consecutive time, as expected, while also signaling the possibility of a rate cut at its next meeting in September. The unanimous decision by the Federal Open Market Committee reflects a continued wait-and-see approach as it monitors inflation trends.
CoinSwitch Markets Desk said: “Bitcoin has fallen below $65,000 after the US Federal Reserve announced it would keep interest rates unchanged. However, with markets now anticipating rate cuts at the next Federal Reserve meeting in September, the outlook for a Bitcoin rally by the end of the year has strengthened.”
Meanwhile, CoinDCX research team said: “The crypto market has plunged after the Fed decision. Tomorrow’s US unemployment rate announcement is expected to induce more volatility, with the ‘actual’ figure coming in higher than the ‘expected’ one, which is positive for cryptocurrencies.”
At 12:21 pm IST, Bitcoin (BTC) was down 3.2% at $64,285, while Ethereum was down nearly 4.5% at $3,313. Meanwhile, the global market cryptocurrency The market capitalization fell 3.6% to around $2.3 trillion in the last 24 hours.
“Bitcoin needs to clear its 200-day EMA at $64,510 to consolidate further. Otherwise, a retest of $62,000 could be in the cards,” said Vikram Subburaj, CEO of Giottus.
Altcoins and meme coins, such as BNB (3%), Solana (8%), XRP (5.7%), Dogecoin (5%), Cardano (4.6%), Avalanche (4.3%), Shiba Inu (3.8%), Polkadot (3.4%), and Chainlink (4%) also saw declines.
The volume of all stablecoins is now $71.64 billion, which is 92.19% of the total cryptocurrency market volume in 24 hours, according to data available on CoinMarketCap. Bitcoin’s dominance is currently 54.99%. BTC volume in the last 24 hours increased by 23.3% to $35.7 billion.
(Disclaimer: Recommendations, suggestions, opinions and views provided by experts are personal. They do not represent the views of the Economic Times)
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Altcoins WIF, BONK, RUNE, JUP Down 10% While Bitcoin Drops 4%
Altcoins dogwifhat, Bonk, THORChain, and Jupiter have suffered losses of more than 10%, while Bitcoin is down 4% in the last 24 hours.
After a period of relative calm yesterday, July 31, Bitcoin (BTC) price action has seen a drastic change as the cryptocurrency dropped by more than $3,500, bringing its value to $63,300. At the same time, altcoins mirrored this trend, with the total value of liquidated positions rising to nearly $225 million over the course of the day.
Initially, the week started on a positive note for Bitcoin, which reached its highest point since early June, hitting $70,000. However, this peak was short-lived, as it was quickly rejected, leading to a substantial decline, with Bitcoin falling below $65,500.
The cryptocurrency managed to regain some stability, trading comfortably at around $66,800. However, following a Press conference According to Federal Reserve Chairman Jerome Powell, the value of Bitcoin has fallen again to $64,300, down more than 3% in 24 hours.
BTC Price Chart 24 Hours | Source: crypto.news
The recession coincided with a relationship from the New York Times stating that Iran had called for retaliatory measures against Israel following the assassination of Hamas leader Ismail Haniyeh in Tehran, increasing the risk of further conflict in the region.
Meanwhile, on the economic front, the Federal Reserve decided to keep its benchmark interest rates in place, offering little information on a planned September rate cut. Powell also hinted that while no concrete decisions have been made on the September adjustment, there is growing consensus that a rate cut is likely.
Amid Bitcoin’s decline, altcoins have suffered even more significant losses. For example, dogwifhat (Wife) saw a 12.4% drop and (DISGUST) has suffered a 10% drop. Other altcoins such as THORChain (RUNE) also fell by 10%, while Jupiter (JUPITER) and the Ethereum naming service (ENS) decreased by 8% and 9% respectively.
Among the largest-cap cryptocurrencies, the biggest losers are Solana (SOL) with a decrease of 8%, (Exchange rate risk) down 6%, Cardano (ADA) down 4%, and both Ethereum (ETH) and Dogecoin (DOGE) recording a decrease of 4.4%.
Data from CoinGlass indicates that approximately 67,000 traders have been negatively impacted by this increased volatility. BTC positions have seen $61.85 million in liquidations, while ETH positions have faced $61 million. In total, the value of liquidated positions stands at $225.4 million at the time of writing.
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Riot Platforms Sees 52% Drop in Bitcoin Production in Q2
Bitcoin mining firm Riot Platforms has released its second-quarter financial results, highlighting a decline in cryptocurrency mined due to the recent halving.
Colorado-based Bitcoin (BTC) mining company Riot platforms revealed its second quarter financial results, highlighting a significant reduction in mined cryptocurrencies attributed to the recent halving event that took place in early April.
The company reported total revenue of $70 million for the quarter ended July 31, a decline of 8.7% compared to the same period in 2023. Riot Platforms attributed the revenue decline primarily to a $9.7 million decrease in engineering revenue, which was partially mitigated by a $6 million increase in Bitcoin extraction income.
During the quarter, the company mined 844 BTC, representing a decline of over 50% from Q2 2023, citing the halving event and increasing network difficulty as major factors behind the decline. Riot Platforms reported a net loss of $84.4 million, or $0.32 per share, missing Zacks Research forecast a loss of $0.16 per share.
Halving increases competitive pressure
The Colorado-based firm said the average cost of mining one BTC in the second quarter, including energy credits, rose to $25,327, a remarkable 341% increase from $5,734 per BTC in the same quarter of 2023. Despite this significant increase in production costs, the firm remains optimistic about maintaining competitiveness through recent deals.
For example, following the Recent acquisition Cryptocurrency firm Block Mining, Riot has increased its distributed hash rate forecast from 31 EH/s to 36 EH/s by the end of 2024, while also increasing its 2025 forecast from 40 EH/s to 56 EH/s.
Riot Platforms Hashrate Growth Projections by 2027 | Source: Riot Platforms
Commenting on the company’s financials, Riot CEO Jason Les said that despite the halving, the mining company still managed to achieve “significant operational growth and execution of our long-term strategy.”
“Despite this reduction in production available to all Bitcoin miners, Riot reported $70 million in revenue for the quarter and maintained strong gross margins in our core Bitcoin mining business.”
Jason Les
Following its Q2 financial report, Riot Platforms shares fell 1.74% to $10.19, according to Google Finance data. Meanwhile, the American miner continues to chase Canadian rival Bitfarms, recently acquiring an additional 10.2 million BITF shares, increasing its stake in Bitfarms to 15.9%.
As previously reported by crypto.news, Riot was the first announced a $950 million takeover bid for Bitfarms in late May, arguing that Bitfarms’ founders were not acting in the best interests of all shareholders. They said their proposal was rejected by Bitfarms’ board without substantive engagement.
In response, Bitfarms She said that Riot’s offer “significantly understates” its growth prospects. Bitfarms subsequently implemented a shareholder rights plan, also known as a “poison pill,” to protect its strategic review process from hostile takeover attempts.
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Aave Price Increases Following Whales Accumulation and V3.1 Launch
Decentralized finance protocol Aave is seeing a significant spike in whale activity as the market looks to recover from the recent crash that pushed most altcoins into key support areas earlier this week.
July 31, Lookonchain shared details indicating that the whales had aggressively accumulated Aave (AAVE) over the past two days. According to the data, whales have withdrawn over 58,848 AAVE worth $6.47 million from exchanges during this period.
In one instance, whale address 0x9af4 withdrew 11,185 AAVE worth $1.23 million from Binance. Meanwhile, another address moved 21,619 AAVE worth over $2.38 million from the exchange and deposited the tokens into Aave.
These withdrawals follow a previous transfer of 26,044 AAVE from whale address 0xd7c5, amounting to over $2.83 million withdrawn from Binance.
AAVE price has surged over 7% in the past 24 hours amid buy-side pressure from these whales. The DeFi token is currently trading around $111 after jumping over 18% in the past week.
Recently, the price of AAVE increased by over 8% after Aave founder Marc Zeller announced a proposed fee change aimed at adopting a buyback program for AAVE tokens.
Aave v3.1 is available
The total value locked in the Aave protocol currently stands at around $22 billion. According to DeFiLlamaApproximately $19.9 billion is on Aave V3, while the V2 chain still holds approximately $1.9 billion in TVL and V1 approximately $14.6 million.
Aave Labs announced Previously, Aave V3.1 was made available on all networks with active Aave V3 instances.
V3.1 features improvements that are intended to improve the overall security of the DeFi protocol. The Aave DAO governance has approved the v3.1 improvements, which also include operational efficiency and usability for the network.
Meanwhile, Aave Labs recently outlined a ambitious roadmap for the projectwith a 2030 vision for Aave V4, among other developments.
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