Taiwan Anti-Fraud Organization Aids in Currency Retrieval: A Tragic Case of Dual Deception Leaves a Woman in Taichung with a Million Taiwan Dollar Loss
A single woman in her fifties surnamed Guo in Taichung City, Taiwan fell victim to a double scam. At the end of last year, she was first caught in an investment fraud and lost 400,000 yuan. Hoping to recover the lost amount, Ms. Guo searched online for a solution, but instead walked into another trap set by a scam syndicate. This type of scam, which claims to be able to recover lost cryptocurrency, is not uncommon and once again caused innocent victims of virtual currency fraud to suffer losses.
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First deceived out of 400,000 yuan, unable to catch the culprit…
“Can help you recover the cryptocurrency” falls for it again
Scam method: Impersonating legal assistance and hacking techniques
Scammed again for 600,000 Taiwanese dollars due to romance fraud
Police: The helpless psychology of using virtual currency scams
“Seeking help through legitimate channels?” Virtual currency crimes are almost unsolvable
Ms. Guo’s initial tragedy began with an investment scam, which led to her losing 400,000 Taiwanese dollars. Although she reported the case to the police, the scammer was not caught, making her even more eager to recover the lost amount.
During her search for a solution, she came across an advertisement on Facebook that caught her attention. It was from a group called “Taiwan Anti-Fraud Organization,” claiming to be able to use hacking techniques to recover the defrauded amount. The woman was attracted by the advertisement and unfortunately fell for it again, losing even more money.
The so-called anti-fraud organization used a fake lawyer who claimed to be from “Taiwan Public Interest Legal Aid Organization” to propose a seemingly reasonable but completely fake solution to Ms. Guo. They claimed that the money Ms. Guo was defrauded of had flowed into a gambling website called “Yongli Entertainment City” and proposed a plan to recover the losses by remitting money again in order to implant a program and “create platform odds loopholes.”
Ms. Guo believed without a doubt and followed the instructions of the other party, remitting a total of 500,000 Taiwanese dollars worth of Tether (USDT) and 100,000 yuan in cash as a deposit. During the process, she was even deceived by the other party’s handsome appearance, thinking she had found true love online. In the end, when she realized that she had been deceived again and both the person and the money were nowhere to be found, she promptly reported the case to the Taichung police.
The Taichung City Police Bureau Criminal Investigation Division revealed that the scam syndicate extensively posted advertisements on social media platforms. This new type of scam, which claims to be able to help victims recover their losses, takes advantage of people’s helplessness. The police remind the public to be cautious when encountering scams, not to easily believe unverified promises of recovery services, and to seek help through legitimate channels.
This incident not only highlights the ever-changing and sophisticated nature of fraud techniques but also reminds the public of the need to further enhance their awareness of online information. Maintaining vigilance and making cautious choices in the face of fraud are important abilities that everyone should cultivate.
Although the flow of cryptocurrency is transparent, once it falls into self-custody wallets or non-mainstream exchanges abroad, it is completely beyond regulatory control.
Although sporadic cases of solving or recovering losses still exist, it is extremely difficult to attract attention if the amount of victimization is not high.
From the current cases of cryptocurrency fraud in Taiwan, almost all of them involve fraud syndicates cooperating with cryptocurrency merchants, using “emotion + investment” fraud methods to deceive victims who are unfamiliar with cryptocurrency into exchanging cash for USDT, which is then transferred to wallets that are not under regulatory jurisdiction.
Most victims believe that law enforcement agencies can recover or find the suspects. In fact, once it involves cross-border crime, the anonymity of cryptocurrency is very high, and the flow of funds can quickly hide traces through various channels. If the flow of cryptocurrency does not fall into mainstream exchanges, giving them the opportunity to cooperate with law enforcement to freeze it, it is almost impossible to recover.
Internet scams once again exploit the psychology of “hope for recovery” and deceive victims under various pretexts for operating fees, making those who do not understand the world of cryptocurrency fall for it again.
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Scammed at your doorstep! Taiwan’s new front in fraud, “doorstep cryptocurrency merchants,” making it harder to prevent
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Anti-Fraud Organization
Scam
Further reading:
Trap in a bull market! Internet user “Xiaoyan” lures in massive investments for Valentine’s Day, Taoyuan man risks being scammed
Scammed at your doorstep! Taiwan’s new front in fraud, “doorstep cryptocurrency merchants,” making it harder to prevent
