Recently, during their routine Internet traffic patrol, the Internet Police from Xiangzhou District PSB in Xiangyang, Hubei Province, in Central China, observed anomalous Internet traffic at a residential complex.
Following a thorough investigation, the police were able to identify the precise flat from which the traffic was emanating and conduct an additional investigation.
The police discovered that the individuals residing in the home were only venturing outside at night and were employing illegal VPN software to bypass the Great Firewall. Additionally, the substantial quantity of overseas telephone cards delivered to the residence led the police to suspect a conspiracy to defraud foreigners.
The Criminal Police Brigade and the Internet Safety Brigade of the Xiangzhou District PSB conducted an investigation at the residence, leading to the arrest of five individuals.
Mr. Hong and Guo, two of the suspects, informed the police that they conceived the idea of swindling foreigners in February 2023. They were confident that they would never be apprehended, as the victims would be unable to travel to China or report the incident to the police.
The two acquired computers, mobile phones, offshore SIM cards, and other fraudulent items for a total of 100,000 yuan. They also hired Mr. Lv, Jiao, and Chen for the position.
Guo was in charge of publishing Facebook ads to lure foreign investors into their virtual currency investment platform, which they had built and managed.
Jiao portrayed the role of a stunning female analyst who specialized in virtual currency investments. The group had complete control over the virtual currency's rise and fall, and "She" was a "specialist" who could reliably predict its trajectory.
Lv, Chen, and Hong impersonated effective customers in order to entice people to purchase and sell virtual currency on the platform.
Additionally, the police discovered USD 20,000 in cash, evidence of a business turnover of up to USD 500,000, chat scripts, instructions on the division of labour, and clear instructions on promotions and exchange rates at the residence.
The group initiated the fraud by creating a successful, attractive female investment analyst on Facebook. After establishing trust, "She" would entice her adherents to invest in virtual currency on the platform that the group controls.
The victim would be left with a meaningless investment after purchasing virtual currency from the platform, as the currency's value would rapidly decline while the group had already captured the hard currency provided by the victim.
The police reminded the public that scamming is a criminal and illegal activity.
Regardless of the individual they are defrauding, those who engage in this activity will face legal consequences.
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