The Boston Globe reported Tuesday that online scammers are now targeting Asian Americans on social media and dating sites, romancing them before enticing them to invest in cryptocurrency schemes.
According to the newspaper, this is what occurred to Cindy Tsai, a 51-year-old Newtonville resident.
In October 2021, she met an attractive young man on WhatsApp who told her his name was Jimmy, at a time when the demands of her life made her grateful for a distraction, she told the Globe.
According to the publication, Jimmy was attentive to Tsai and frequently complimented her, but he also shared his bitcoin success with her, sending her images of his returns. According to the Globe, he soon harassed her into investing until she caved in.
According to the article, Tsai finally purchased roughly $20,000 worth of Ethereum, which she transferred to an account that appeared to be tied to a cryptocurrency exchange website. The site, however, was a hoax run by Jimmy, who had misled about his identity, according to the Globe.
Tsai told the newspaper that she had lost $2.5 million.
Tsai’s situation appears to be becoming more typical. Online romance frauds have surged since the pandemic began, according to the Globe.
According to the Globe, the scammers will pose as big-shot cryptocurrency investors and persuade their victims to buy cryptocurrencies. According to the newspaper, they then instruct the victims to transfer the cryptocurrency to a phony exchange website that they control.
The victims figure out what happened when they realize they can’t withdraw the money, the Globe reported.
