Chinese crypto scams are a new trend in internet crime. These scams target the Philippines people by asking for help on their Facebook ads. The promise is to exchange US dollars for a crypto coin that will grow exponentially.
Some have asked people to fly from the Philippines to China to work for them and give them a share of the profits, promising great returns and future jobs in return.
Local news outlets have been reporting this trend, but many are still determining whether or not these promises can be trusted.
Crypto dating scam – how it works?
The scammers typically advertise on Facebook and other social media sites with photos of beautiful Chinese girls. The Asian woman is typically a tourist from China who is visiting the Philippines and is looking for someone to date.
After the initial contact on the dating site, she will ask for help exchanging dollars for crypto coins. She will tell you she has money trapped in this other country.
You will then exchange her dollars for crypto coins and wait a few months until she receives her money back in her home country (China), and then she will share the profits with you.
The scammer will ask you to send her money abroad through Western Union and bank transfer. She will then ask you to transfer the money to an account she has in China so she can receive her money.
Once she gets the money, she will ask you to send more funds to a different account in China. Once you do this, she will disappear and never offer any further help in exchange for your crypto coins and money.
‘Asian women’ on Twitter are coming for your ‘crypto-wallets.’
Like the crypto-dating scam, scammers also pretend to be attractive Asian women to get people’s money. Men have been seeing this on Twitter, and as soon as they say hello to the “Asian woman,” she will start asking for help exchanging dollars for crypto coins.
She will give you the impression that she has money trapped in other countries and ask for help getting her money out in exchange for crypto coins.
The request will be very convincing, and many men are falling for it. Once you send her the funds, she will disappear and never offer any further help in exchange for your crypto coins and money.
The woman will ask you to send her money through Western Union and bank transfer. She will then ask you to send the funds to an account she has in China so she can receive her money. Once she gets her money, the scammer will disappear without offering any further help in exchange for your crypto coins and your money.
Dubious tech companies
This scam is similar to previous scam scams. The main difference is that in this scam, the scammers use legitimate-looking websites and apps, such as Binance.com and Changelly.com, instead of websites and apps designed to look like popular social media sites, such as Facebook and Twitter.
Local news outlets have been reporting this trend, but many are still determining whether or not these promises can be trusted. Many questionable tech companies use cryptocurrency security to lure in investors, many of whom have put their life savings into the companies.
It’s been reported that some investors have lost close to $25 million (PHP 1 billion) because they were told it would go up in value.
It is common to see these offers being made in front of legit tech companies. Scammers often pose as Google, Facebook, PayPal, and other trusted corporations. They will offer a way to get refunds from the company you trust.
The scammers also appeal to people’s emotional side, using phrases like “my dad just died, and I can’t get my money back” or “my mom is dying, and I need money for her operation.”
They will also play on people’s fears, saying they can transfer money to your family member or friend in the Philippines. Once the investor moves cash to their bank account, they disappear and leave their “investment” behind.
Fake female dating profiles on dating sites
A new scam is hitting dating sites, and it sounds too good to be true. To get people’s money, scammers are posing as attractive Filipinas on popular dating sites, such as AdultFriendFinder.com and Match.com.
The scammer will pose as a woman from the Philippines seeking a wealthy partner. Once contact is made, the “woman” will ask for help exchanging currency for cryptocurrency or a portion of their savings in exchange for digital coins.
The scammer will ask you to send money through Western Union and bank transfer. They will then ask you to transfer the funds to an account they have in Indonesia so they can receive their newly acquired digital currency.
Once they receive the money, they will ask you to send more funds to a different account in Indonesia. Once you do this, they will disappear and never offer any further help in exchange for your crypto coins and money.
Online daters are losing their money
Young Filipinos looking for dates on Facebook and other social media sites have been targeted by scammers who want their money in exchange for Bitcoin or other digital currencies. The scammers do not care about the victim’s personal information or the potential “romance” with their victims. They are only concerned about getting people’s money.
They will build up a profile on social media and then start a romantic relationship with their victims. After some “romantic meet and greet,” the scammer will ask for money in exchange for digital currency.
These scams are rising; some people have lost nearly $20 million (PHP 600 million). This scam targets people in the Philippines and those from other countries, such as the U.S. and Canada. The scammers want your money, plain and simple.
After asking for help in exchanging currency for digital coins, the scammers will then ask you to send funds to a different account in Indonesia. Once you do this, they will disappear and never offer any further help in exchange for your crypto coins and money.
Social media sites, such as Facebook and Twitter, are being used to recruit victims to invest their life savings into cryptocurrency investment scams. Once people put their money into these Bitcoin ICOs, the scammers will steal the money and never offer any guidance on how to get it back. These scammers have also enlisted local news outlets to publish fake articles about cryptocurrency investment scams to scare people into believing it’s true. This is happening all over the world and is a big problem.