Florida Man Files Lawsuit Over $860K Crypto Trading Scam

A Florida investor has filed a federal lawsuit alleging a Denver-based trading school and fake cryptocurrency exchange defrauded him of $860,000 through manipulated trading signals and false promises of massive profits. The complaint details an elaborate scheme involving a company called Alpha Stock Investment Training Center (ASITC) and a non-existent platform named CoinBridge Partners.

How the Alleged Scam Operated

According to court documents, the victim Brian Firestone was initially approached in December by an individual identifying as John Smith, who offered free cryptocurrency trading education through ASITC. The operation allegedly used "signal trading" - where instructors would send precise trade timing instructions that students would execute through the CoinBridge platform.

——The scheme followed a classic pattern of building false trust and escalating investments—— Firestone's initial $500 test investment reportedly grew to $55,000 within weeks, prompting larger deposits. At its peak, his account balance showed 【$24.5 million】 before being wiped out by a purported "system error."

Red Flags and Financial Ruin

The lawsuit describes multiple warning signs including: • Pressure to take loans from the school itself • Inability to withdraw funds • Sudden account closures after failed trades • Discrepancies between the fake CoinBridge and legitimate companies with similar names

Firestone ultimately lost $860,000 in cash and borrowed funds before the operation cut off contact in May. The complaint names ASITC, CoinBridge, Smith and founder Raymond Torres for fraud, theft and racketeering violations.

Broader Crypto Scam Landscape

The case emerges amid growing concerns about cryptocurrency fraud. Security firm CertiK reports 【$2.1 billion】 already stolen in 2025 through various crypto scams, with phishing and social engineering replacing technical hacks as the primary threat vectors.

Protection Recommendations

Industry experts advise investors to: • Verify exchange licenses and physical addresses • Research company backgrounds thoroughly • Be wary of "guaranteed" high returns • Avoid sharing private keys or wallet access • Start with small test withdrawals before major investments

The lawsuit seeks full restitution plus punitive damages, with the defendants yet to file formal responses. As crypto adoption grows, such cases highlight the critical need for investor education and regulatory oversight in digital asset markets.