Physical stores deceive middle-aged group! Bust "fake delivery orders, real fraud" in Banqiao, gathering two billion Taiwanese dollars in half a year
According to a news report by Formosa TV, a case of using USDT for fake investments and actual fraud was uncovered in Banqiao District, New Taipei City, Taiwan. The suspects set up a physical store to attract middle-aged investors, making a profit of two billion New Taiwan Dollars in six months.
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Physical Stores Lower Victims' Guard, Fake Trading Orders Lead to Scams
A fraud group advertises on Facebook and websites, opens a physical store in Banqiao, and offers trading services to make victims lower their guard.
One person plays two roles, acting as an investment teacher to guide trading operations. Initially, victims experience some success, but later face difficulties in withdrawing funds. Within six months of operation, the scam has defrauded 11 people of NT$200 million.
The police have seized 450 virtual currency top-up cards, blocked NT$4 million in cash, and confiscated over 110,000 USDT. The virtual currency top-up cards were used by the suspects to have victims purchase cryptocurrencies, allowing them to launder the money flow.
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