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Crypto scammers prey on the elderly in Japan

by Vaibhav
March 18, 2023
in News
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PeopleDAO hacked for $120,000
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  • Middle-aged people and teenagers are also targeted.
  • In response, the Japanese government increased the level of financial education

scammers from japan looking for new victims among the elderly. They meet on social networks or on dating sites and try to deceive the interlocutor.

The main scheme for stealing funds is to send victims to scam exchanges to trade cryptocurrencies. Some scammers offer “guaranteed monthly earnings” on cryptocurrency. At the same time, without explaining exactly how the funds are earned. Most of these schemes have been exposed in Japan and East Asia, but new ones are constantly emerging.

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Victims of scammers are not only the elderly, but also teenagers and adults. They get acquainted with them in such social networks. networks like Line, Twitter and Instagram. They offer schoolchildren and students a guaranteed profit of up to 40%. And for adults they pretend to be rich and successful. Scammers approach older people with a more serious scheme, they convince them to sign up for investment trainings.

The country’s authorities have already responded to such situations and increased the level of financial education.

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Such deceptions happen regularly, and unfortunately, people do not learn from the mistakes of others. Recently, a 30-year-old man lost $56,000 and was left with almost nothing. He met a woman on social networks. She told the man that she was making at least $200,000 a month trading cryptocurrencies. And then I convinced him to invest in a scam coin. After some time, representatives of the exchange called him and said that the funds were frozen. So he realized that it was a scam.

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Another similar incident occurred in England. There, a 70-year-old British woman lost $200,000 in BTC to a scammer lover. You can read more about this in our material.

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