What started as a shot at the crypto jackpot has turned into a nightmare for one Florida investor, who says he was taken for a ride by a slick-talking trading school and a phoney exchange. After handing over a staggering $860,000, he’s now knee-deep in a legal battle to claw back what’s left.
Image 1: (Source: Thecoinrise)
Brian Firestone is pointing the finger squarely at a Denver-based outfit called the Alpha Stock Investment Training Center (ASITC) and a shady crypto platform going by the name CoinBridge Partners. In a lawsuit filed in federal court, Firestone claims he was duped by a polished operation that dangled fake profits in front of him like a carrot, only to pull the rug out when he was too deep to back out.
Lured In With the Old Bait and Switch
It all began back in December when Firestone got a call from someone calling himself John Smith—who said he was with ASITC. The pitch? Learn to trade crypto with expert help. Smith even tossed in $500 to kick things off. That little gift quickly appeared to snowball into thousands, and just like that, Firestone took the bait.
ASITC had a slick website showing a Denver address and funnelled users toward CoinBridge, which claimed it had already raised $10 million from eager investors. But as Firestone would soon find out, the whole setup was smoke and mirrors.
The strategy they used was called “signal trading.” Self-proclaimed “professors” sent out timed tips—telling users exactly when to buy and sell. Firestone followed the instructions to the letter, and his $500 ballooned to $55,000 in no time.
From Cloud Nine to Crash Landing
Pumped by the fast gains, Firestone threw in $50,000 of his own in January. Before long, his CoinBridge balance was flaunting a cool $2 million—looking like he’d hit the crypto lottery. Thinking he’d struck gold, Firestone kept sending glowing messages to Smith, thanking him for the wild profits.
But just as things looked too good to be true, the floor gave out. One trade went belly-up, and in a flash, Firestone’s balance was slashed to $12,000. Still convinced the next big win was around the corner, he wired another $470,000. Then he borrowed $330,000 from ASITC to keep the game alive. At its peak, his account was flashing numbers like a Vegas jackpot—claiming a jaw-dropping $24.5 million.
Florida Man Loses $860K in Crypto Trading Scam Involving Fake Exchange
A Florida investor claims he was duped out of $860,000 by a Denver-based “crypto trading school” and a fraudulent exchange. The victim alleges the scheme involved fake trade signals and false promises of… pic.twitter.com/dm4tpqYOlF
— AIBSTRACTA (@Aibstracta) June 22, 2025
But it didn’t take long before the wheels started falling off. A USDT trade went off the rails in early March, turning the whole thing into a train wreck. Firestone says the platform glitched, locking him out and wiping his balance clean. The excuse is “system error”.
A Desperate Gamble Turns Sour
In a last-ditch effort to get back on top, Firestone borrowed another $1 million from ASITC. The platform magically showed a bounce-back to $6.6 million, but there was a catch—he couldn’t repay the mounting loans. By 1 May, ASITC had slammed the door shut and locked him out of his account, leaving him with nothing but a mountain of debt and regret.
Now, Firestone is dragging ASITC, CoinBridge, and the individuals involved—including someone named Raymond Torres—into court. He’s accusing them of everything from fraud to racketeering, calling the entire thing a well-oiled scam machine.
Meanwhile, a legitimate firm also called CoinBridge Partners—this one based in Wyoming—is denying any involvement, claiming their name was hijacked in the ruse.
Image 2: (Source: Inside Bitcoins)
The Bigger Picture: Crypto Scams on the Rise
Firestone’s ordeal isn’t just a one-off horror story. Crypto scams are popping up left, right, and centre—spreading like a bad rash across the digital landscape. In just the first half of this year, over $2.1 billion has gone up in smoke through various crypto-related schemes.
Ronghui Gu, co-founder of blockchain security company CertiK, says the trend has shifted away from hackers breaking into systems. These days, it’s the old-fashioned con job that’s doing the most damage. Phishing and fake platforms are now the go-to tools for scammers.
Phishing alone racked up losses north of $1 billion in 2024, with nearly 300 known incidents. These scams trick people into giving away their passwords or wallet keys—handing crooks the keys to the vault.
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What happened to Firestone is a stark reminder that in the crypto world, it’s easy to be dazzled by big numbers and slick pitches. But when the returns come too fast and the setup smells fishy, it’s time to hit the brakes.
ASITC used fake profits to lead investors down the garden path. It’s a classic hustle wrapped in a high-tech package. The more “gains” Firestone saw on screen, the more money he was convinced to sink in. And by the time things fell apart, it was too late to turn back.
