There have been recent reports of a shocking number of women being scammed out of their hard-earned money by men pretending to be interested in a  woman looking to find a fuck buddy. In many cases, the perpetrators will post a lavish lifestyle, on Douyin, the Chinese version of TikTok.

They then message unsuspecting victims and start months-long online romance. Their operations are very calculative, they take their time to make the victims fall in love and show them how lavish they are living before finally ‘going for the kill.’

The scammers will ask for money for various reasons, such as to buy a ticket to meet their victim in person or to pay for medical bills. In these cases, they ask victims to invest in cryptocurrency.

As many of these scammers are based overseas, it can be very difficult for the victims to get their money back.

Woman Fell For Crypto-Coin Scam While Trying To Find Fuck Buddy

Qiao Er a Chinese woman, was one of the many women who fell for this crypto-coin love scam while she was trying to find a fuck buddy. She told reporters that she had lost all her savings to a man she had met on the Douyin platform.

Er says she liked clips of the man playing tennis, feasting on lobsters, and cruising in a Ferrari. The man reached into her inbox and the online romance started brewing. Qiao Er was left heartbroken and broke after she found out that it was all a scam.

There are thousands of victims like Qiao Er losing their life savings when  trying to find a fuck buddy to crypto scams. The Chinese government is trying to curb this growing menace which they term a ‘pig butchering’ scam. The origin of this comes from the fact that victims are ‘fattened up’ through these online relationships. 

 The Financial Times in London interviewed three women who lost a combined $2m in a well-coordinated cryptocurrency scam that took advantage of their loneliness.

There are an estimated 80M ethnic Chinese residing outside of China. Some of these people operate large businesses and have a lot of money. The scammers are targeting this population as they are considered easy prey.

The promise of getting a return on investment in crypto coupled with the enticing factor that this is a person you love and trust is easily misleading to the female targets that fall prey to these scams. These women see the lifestyle  of the music video “rich life forever,” but never actually see the men. And that lack of using their common sense, makes this a bit their own fault. People must be responsible for their decisions.

The pandemic has only made things worse as people are now spending more time online and are lonely. This has resulted in a sharp increase in the number of crypto scams. The restricted travel provides the perfect excuse for the scammers to explain why they can’t meet physically.

Taiwan’s Criminal Investigation Bureau Investigating The Citi.Mt4 Site

Taiwan’s Criminal Investigation Bureau has been investigating the Citi.mt4 site which they claim has the ‘characteristics‘ of being developed by fraud groups. The site posts fake profits made by victims and uses these to bait other women.

Liao Jiankai, an investigator from the bureau says the tactics used by Qiao Er’s scammer were similar to those used in other cases.

“At the beginning, the victims invest small amounts and earn returns, so they think it’s real. Then the scammers then find ways to make as much money as possible. When the victim tries to take the money out, the website demands them to pay tax or a deposit before closing,” Liao Jiankai explains.

There are Leaked Chinese-language handbooks that explain how scammers use human psychology to trick their victims. One of the guide books refers to the clients as ‘customers’ and urges the scammers to take their time to trick the victims into making cryptocurrency investments.

“Tell the customer you’re bored, that you want to play a game with them that can earn them some money,” it states.

The Chinese authority has issued warnings to the public to be vigilant against this crypto scam. They have also set up a task force to investigate and track down the scammers.

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