73-year-old man in Kaohsiung loses retirement savings in cryptocurrency scam, thinking he would make 27 times profit
Not every flash in the dazzling world of virtual currency is gold. Mr. Li, an elderly man from Kaohsiung, is a victim of the dark side behind this flash. He believed that he had made huge returns in virtual currency investments, but realized at the last moment that he had fallen into a trap carefully set by fraudsters.
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Staking Retirement Pension: AI Trading Assistant Thought to Have Made 20 Million Profit
Profit Multiplied 27 Times on the App, but Verification Fee Required for Withdrawal
Truth Revealed After Reporting to the Police
Teenager Referred to Juvenile Court
Mr. Li, a 73-year-old man from Kaohsiung, joined a virtual currency investment group in early January this year and was persuaded by members of the group to download an application called “AI Trading Assistant.” This app claimed to be able to automatically proxy investments, and Mr. Li trusted it completely, subsequently investing his retirement pension of 820,000 NTD in batches.
As the Chinese New Year approached, Mr. Li saw on the app that his account balance had reached a staggering 22.45 million NTD, nearly 27 times the initial investment. When he tried to withdraw the profits, the other party demanded a “verification fee” of 450,000 NTD, which made Mr. Li, who had originally planned to have a prosperous New Year, start to feel uneasy.
At the suggestion of his family, Mr. Li decided to seek help from the police. Subsequently, with the assistance of the police, a counterfeit money transaction was conducted at a coffee shop in the Sanmin District of Kaohsiung City, successfully exposing this fraud ring. Surprisingly, the fraudster turned out to be a 17-year-old teenager who claimed to have been hired to carry out the tasks.
The case was ultimately transferred to the Kaohsiung Juvenile and Family Court to be dealt with as fraud, once again reminding the public to remain vigilant in the field of virtual currency investment and not to easily believe in high return promises, in order to avoid falling into the traps set by fraudsters.
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“Fraudsters are getting off too lightly! Lawyers and police officers are changing professions.” Public calls for the government to establish a national debt collection team: Five major financial fraud cases expose rampant fraud in Taiwan.
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AI Trading Assistant
Virtual Currency
Verification Fee
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