Taylor Thomson, the heir to Thomson Reuters, lost over $80 million in cryptocurrency assets after following the advice of a psychic

ChainCatcher news, according to Cointelegraph, billionaire heir Taylor Thomson lost over $80 million in digital assets due to following investment advice related to a psychic.

Thomson is a member of the family behind media and financial giant Thomson Reuters, and she invested millions of dollars in crypto assets with the help of her former close friend Ashley Richardson.

Both had previously sought advice from psychics, and later Richardson became deeply involved in managing Thomson's crypto asset portfolio. During the bull market in 2021, Richardson reportedly managed over $140 million in crypto assets for Thomson across multiple wallets.

However, the downturn in the crypto market in mid-2022 severely impacted the portfolio, with consulting firm Guidepost Solutions estimating that Thomson's losses exceeded $80 million.

The firm accused Richardson of executing over 450,000 trades without proper authorization, exposing Thomson to high-risk strategies.

Richardson denied the allegations, stating that she acted at Thomson's direction and that there was no formal contract between the two.

In 2023, Thomson sued Richardson and Persistence; she has since settled with Persistence, while the lawsuit against Richardson is still ongoing.