Case Study:- Gregory Shaw Guided Into Crypto Scam by Fraudulent Caller Posing as Bank Staff

Gregory Shaw: A Careful Saver Misled by a Voice of Authority

Gregory Shaw, a 52-year-old equipment supervisor from Saskatoon, Saskatchewan, was always practicing budgeting and financial caution. With two adult children and a retirement plan already in place, he thought he was the kind of person who could not be deceived. However, a very convincing phone call from a person posing as a bank fraud investigator took him to an unexpected situation.

The Call That Shattered Routine

On August 29th, 2025, Gregory received a call while leaving work. The caller claimed to be from his bank’s security team and warned him of “suspicious activity” on his account. To secure his funds, they advised him to withdraw cash and deposit it into a crypto ATM — explaining this would keep the funds “safe from hackers.”

The man stayed on the line with Gregory the entire time. the caller instructed him to use a crypto ATM downtown, explained downloading a wallet app, and gave him a QR Code to scan. Gregory, anxious yet trusting the authority voice on the line, deposited CAD $15,000 over two installments, converting it to Bitcoin and then depositing it into the wallet address that had been given.

When Reassurance Turned to Silence

At first, the caller praised Gregory’s “swift action” and said the funds would be reallocated to a secure digital vault. But as Gregory began asking more questions, the tone changed. Follow-up calls went unanswered. The wallet balance never updated. When Gregory called his bank directly using their verified number, they had no record of any fraud alert or security contact.

His heart sank. The wallet was empty. He had been manipulated into willingly handing over thousands, step-by-step — and the scammer had vanished.

The Emotional Weight of Being Deceived

Gregory’s reaction was a mix of disbelief and guilt. As someone who’d always been cautious, he struggled to accept he had followed every instruction — and still lost nearly a third of his liquid savings. The agony of shame had rendered him unable to even share the harrowing experience with anybody. He found no sleep as he kept jogging that particular conversation numerous times in his mind, wondering if he had missed the signs given to him. 

Finding a Line of Support at the Right Time

A few days later, during a late-night search for answers, Gregory came across First Funds Recovery — a service dedicated to helping scam victims understand what happened and explore recovery options. Skeptical but desperate, he sought a free consultation. 

What surprised him was the quick response he got.The representative wasn’t judgmental. Instead, they walked him through next steps, offering clear insight into what might still be possible.

Breaking Down the Case with Clarity

1. Initial Case Review

Gregory provided screenshots, call logs, withdrawal receipts and ATM transaction confirmations. First Funds Recovery carefully assessed the timeline and wallet addresses involved to determine a recovery route.

2. Evidence Collection and Verification

The team compiled all available data — including transaction hashes, wallet activity, and the wallet provider’s origin — to establish a pattern and pinpoint potential links to known fraud networks.

3. Recovery Strategy Development

Based on the case details, First Funds Recovery helped Gregory understand which crypto exchange facilitated the transactions. The team guided him on submitting the necessary reports and security flags within those platforms.

4. Ongoing Support and Monitoring

Over the course of weeks, First Funds Recovery stayed close to Gregory, giving reports about wallet activity and teaching best practices to secure one’s own and personal financial data in the future.

A Slow Climb Back to Stability

While Gregory couldn’t retrieve the full amount, his wallet activity was successfully flagged, preventing future use by the fraudsters. A portion of his funds remained traceable, and he continues to work with the recovery team to build a case file. More importantly, he’s no longer stuck — mentally or financially. With First Funds Recovery’s help, he began to rebuild both his sense of control and confidence.

Lessons Etched in Experience

Gregory’s experience exposed one hard truth: scams don’t always look like scams — especially when they’re disguised as protection.

Key takeaways from his case include:

• Never buy urgent financial instructions given over the telephone, even if the caller purports to be from your bank.
• Hang up and verify through proper channels before taking action.
• Crypto ATMs are frequently exploited by fraudsters because transactions are immediate and irreversible.
• Keep detailed records — receipts, screenshots and timestamps are vital for any fraud recovery process.

Finding Strength Through Expert Assistance

The conclusion of Gregory’s ordeal was one of cautious optimism. The emotional scars remain, but he got reassurance and guidance from the experts at First Funds Recovery. His message to others is straightforward:

“Don’t allow embarrassment to silence you. Scammers count on your silence. Reaching out for help is your first step to taking back control.”