Met two women one after another online
“If I made a successful trade, I would post it on social media and random people would come up to me and they would always mention cryptocurrency investing and I would tell them to forget about it. Because I know what they want." At first, 62-year-old Michael was very cautious. He had heard of the "pig killing plate" scam and firmly believed that he would not be deceived.
But in early December 2022, a woman "Hui Hui" who claimed to be from China found him. At first, they just had a friendly chat, and Michael complained to her that many people online wanted him to invest, but he was not fooled.
Michael admitted that he was experiencing some problems in his marriage at the time and his mentality was very fragile. The two chatted romantically online and planned to meet in person in the future. It was then that "Hui Hui" proposed investing in a cryptocurrency platform and convinced Michael to invest $18,000.
On December 21, another woman named "Lydia" contacted Michael on social media. She also said she was Chinese, claimed to be a successful businesswoman, and even sent Michael a photo of a Bentley she claimed to own. "Her attitude was still very casual and I felt comfortable chatting with her, so we switched to WhatsApp chat. It was not a romantic relationship, but she showed that she was my friend and she was able to gain my trust," Michael said. .
Invested twice and was defrauded of US$500,000
Michael became increasingly suspicious of the money he invested in "Hui Hui" and even complained to "Lydia", explaining that he was eager to get the money back.
It was not until three months after chatting that "Lydia" proposed an investment opportunity, saying that her aunt was a Wall Street trader and was currently working on a special project. Michael was also invited to help him make more money. .
"I was brainwashed," he continued. "She promised me a prosperous life and I was attracted to the idea of making money quickly. I should have known better."
Michael started investing in the platform and even took money out of his 401(k) plan, paying a 20% penalty each time. In April this year, when Michael tried to withdraw funds from the first platform he invested in, he was hit with a $132,000 fine.
In a panic, he tried to withdraw money from the scheme he and "Lydia" had invested in, and was fined $50,000.
Michael said it was then he realized he had fallen victim to a sophisticated scammer.
This type of scam can change the victim’s life
"Between these two accounts, I lost $500,000 and I
