Crypto Fraudsters Preying on Japanese Social Media & Chat App Users
Crypto-related crime continues to rise in Japan – where a media outlet has recounted how two men in their thirties were stung by chat app-based crypto fraudsters running a bogus crypto exchange.
According to the newspaper Yomiuri, 24 cases of crypto-related fraud where the perpetrators made use of social media and chat apps have been reported in Fukuoka Prefecture thus far in 2022. The cumulative total of money lost in social media-powered fraud cases in the region has hit the $2 million mark, police explained.
The media outlet interviewed two men who said they were duped by “investors” on an investment-themed Telegram channel earlier this year. The first man, named “A” by the media outlet in order to preserve his anonymity, explained that an individual from the chat asked for his Line ID in order to continue a conversation in private.
He was later approached on Line by a woman calling herself “Angie Lee” and claiming to hail from Taiwan.
In “broken Japanese,” she attempted to persuade him to “invest in cryptoassets” using a platform she recommended.
A was initially skeptical, but eventually agreed to invest a “small amount” – around $34 – on the platform. When he made unexpected “profits” of “several tens of thousands of yen” on this initial investment, A explained that his “suspicions gradually faded away.”
A continued to increase the size of his stake, eventually putting almost $9,000 into the platform on 10 separate instances. He added that he successfully withdrew fiat from the platform on two occasions.
A then introduced his friend (B), also from Fukuoka Prefecture, to Angie Lee. The latter then proceeded to invest some $36,500 on the platform over the course of eight transactions.
But in August, A came across a post on
Read more on cryptonews.com
