Authorities in Central Jakarta have arrested 20 suspects linked to an elaborate crypto romance scam that preyed on middle-class professionals across Southeast Asia.
According to a local report, the syndicate, which primarily targeted women from the Philippines, Vietnam, and Thailand, operated through dating apps before luring victims into fraudulent cryptocurrency investments.
Metro Gambir Police Chief Rezeki R. Respati reported that scammers created fake profiles on dating platforms like OkCupid, Bumble, and Tinder to gain victims’ trust. Conversations later moved to WhatsApp, where victims were lured into investing in a fake crypto trading platform called Wish, promising up to 25% returns. Instead, victims’ investments were diverted to the scammers’ accounts, resulting in significant financial losses. Police are currently investigating and have seized financial records related to the scam.
Among those arrested, three individuals have been identified as key masterminds behind the operation, while the remaining suspects played supporting roles. Authorities are also pursuing one suspect, identified as AJ, who is believed to be a foreign national from China.
A separate report suggests that this scam may be part of a larger criminal network run by Chinese nationals. Similar operations have been uncovered across multiple jurisdictions, highlighting a growing trend of crypto-related fraud with suspected ties to China.
Adding to the growing list of crypto-related frauds, Indian authorities are investigating a cryptocurrency investment scam that has defrauded at least 320 individuals in Andhra Pradesh. According to a report from the Deccan Chronicle, the scheme promised unrealistic monthly returns of 10% and has resulted in reported losses of at least INR 23 crores (approximately $2.73 million). The scam is allegedly the work of a single individual identified as “Ramanjaneyulu.”
Meanwhile, Irish authorities seized $3.42 million worth of cryptocurrency in November, believed to be linked to pig butchering scams, a term for long-term fraud schemes where victims are emotionally manipulated before being financially exploited.
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