Authorities Warn of Sophisticated Scams Surge, Victims Lose Millions
Authorities have warned of a surge in sophisticated scams, with victims losing millions. The most effective defense is to hang up and verify independently. Scammers often create urgency, demand secrecy, and try to isolate victims.
In a recent case, Zhimin Qian and Jian Wen were convicted for their roles in the largest known crypto scam, involving 61,000 Bitcoin. They targeted unsuspecting investors, promising high returns. The scam was exposed when Qian admitted his involvement.
In the UK, the BaFin warned about fraudulent actors posing as investment professionals. They used fake personas like Lisa Bergmann, Claudia Richter, and David Kraft to lure victims into scams via WhatsApp groups. Another fake identity, 'Professor Alex Smith', was linked to Bridgewater Associates. These scammers promoted fake investment opportunities, targeting vulnerable individuals.
In the US, Noor L. admitted to a scam where they impersonated a needy son to defraud elderly victims of around 50,000 euros via SMS. This highlights the evolving nature of scams, with fraudsters adapting their tactics to exploit new technologies.
Scams share common hallmarks despite appearing different. Red flags include asking for Social Security numbers, rushing decisions, or instructing victims not to talk to anyone else. Authorities urge the public to stay vigilant, hang up on suspicious calls, and verify independently with trusted sources before acting on any investment requests.
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