A RETIRED teacher was scammed out of her £120,000 life savings after falling victim to a Bitcoin scam on Instagram.

Teresa Jackson, 63, from Portishead, signed up to a Bitcoin investment scheme after spotting an advert for it on Instagram.

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Retired teacher lost all her money – and some of her friend’s – to a Bitcoin conCredit: ITV News

The scheme claimed it had been endorsed by survival expert and TV Star Bear Grylls – but she only found out it was fake after losing all her money.

She told ITV News she was contacted by someone claiming to be a financial advisor who she thought was “really knowledgeable”.

Following the phone call she did a small bit of research on the company, reading the website and terms and conditions.

She was persuaded to to invest her money.

What to do if you think you’ve been scammed

IF you’ve lost money in a scam, contact Action Fraud on 0300 123 2040…

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