Cryptodetective blank
  • Cryptocurrency News
    • Bitcoin News
    • Ethereum
      • Ethereum 2.0
    • Ripple
    • Solana
    • Shiba Inu
    • VeChain
    • Polygon
    • Stablecoin
  • Exchange News
    • Binance News
  • Finance News
    • Government and Regulations News
  • Cryptocurrency Market Analysis
  • Finance News
  • NFT News
  • Crypto explained
  • Knowledge Base
Reading: “Huge crypto scam busted in the Philippines”
Share
  • bitcoinBitcoin(BTC)$25,536.00-3.61%
  • ethereumEthereum(ETH)$1,743.34-5.13%
  • USDEXUSDEX(USDEX)$1.07-0.94%
  • tetherTether(USDT)$1.000.05%
  • binancecoinBNB(BNB)$235.33-8.86%
  • usd-coinUSD Coin(USDC)$1.00-0.06%
  • rippleXRP(XRP)$0.490384-6.17%
  • staked-etherLido Staked Ether(STETH)$1,741.80-5.21%
  • cardanoCardano(ADA)$0.239102-24.42%
  • dogecoinDogecoin(DOGE)$0.059776-11.75%
CryptodetectiveCryptodetective
Aa
  • Cryptocurrency News
  • Exchange News
  • Finance News
  • Cryptocurrency Market Analysis
  • Finance News
  • NFT News
  • Crypto explained
  • Knowledge Base
Search
  • Cryptocurrency News
    • Bitcoin News
    • Ethereum
    • Ripple
    • Solana
    • Shiba Inu
    • VeChain
    • Polygon
    • Stablecoin
  • Exchange News
    • Binance News
  • Finance News
    • Government and Regulations News
  • Cryptocurrency Market Analysis
  • Finance News
  • NFT News
  • Crypto explained
  • Knowledge Base
Have an existing account? Sign In
Follow US
Copyright © 2023 Cryptodetective.net. All rights reserved.
"Huge crypto scam busted in the Philippines"
Cryptodetective > Blog > News > “Huge crypto scam busted in the Philippines”
News

“Huge crypto scam busted in the Philippines”

crypto
Last updated: 2023/05/13 at 3:13 AM
crypto Published May 13, 2023
Share
Photo by RDNE Stock project on Pexels

The Crypto Scam Epidemic: Uncovering the Manila Scam Factory and Romantic Scams

The Manila Crypto Scam Factory: A Large-Scale Crypto Scam Organization Busted

Scams are unfortunately not uncommon in the crypto world, but it is seldom that a large-scale crypto scam organization is busted. However, last week in Manila, the capital of the Philippines, more than a thousand people who were forced to defraud others online were rescued by authorities. Twelve people, including seven Chinese, four Indonesians, and one Malaysian, were arrested. This was announced by local media.

Contents
The Crypto Scam Epidemic: Uncovering the Manila Scam Factory and Romantic ScamsThe Manila Crypto Scam Factory: A Large-Scale Crypto Scam Organization BustedRomantic Crypto ScamsConclusion

The victims were lured to the Philippines by the perpetrators with the promise of work, free airline tickets, and accommodation. Once they arrived, their passports were taken away, and they were forced to run crypto scams on the internet for up to 18 hours a day. They were not allowed to communicate with their peers. The rogue organization trained the victims to trap unsuspecting people. Through fake romantic relationships, they manipulated victims into transferring money and cryptocurrency. People in America and Europe, in particular, have been targeted by these practices.

This kind of crypto scam is not new. The internet is rife with scams, and it is often older and more vulnerable people who are the target of such schemes. Scammers promise a bright future that includes buying a car, buying a house, investing together, or doing business. People who are not aware of the risks on the internet are often easy to deceive with such stories. Do you have vulnerable individuals in your environment who are active on the internet? Try to inform them about the risks they may face. Such crypto scams are also not uncommon in the Netherlands and Belgium.

Romantic Crypto Scams

There are countless examples of crypto scams, especially ‘romantic scams,’ which have become increasingly popular lately. For instance, a British senior recently lost nearly two hundred thousand euros because of such a scam. The woman had established contact with a man who claimed to be a doctor in the US army through a dating website. However, it turned out that the man was a scammer. Still, by the time she discovered the truth, it was too late. The woman had already transferred almost $200,000 via bitcoin (BTC) ATMs.

- Advertisement -

Unfortunately, such events happen too often, and it is challenging for authorities to prevent them. It is essential to be careful when dealing with strangers on the internet. The best course of action is to verify the information you receive before taking any action. You can also report any suspicious activities to relevant authorities.

Conclusion

The Manila scam factory and romantic crypto scams are but a drop in the ocean of countless scams present on the internet. This underscores the importance of being careful and vigilant when dealing with strangers on the internet. Avoid interacting with people you do not know and verify information before taking any action. You can also report any suspicious activities to relevant authorities. The crypto world is vast, and it is crucial to be well-informed and educated about potential risks.

You Might Also Like

North Korea probably behind major crypto wallet hack.

New crypto regulations in the US are much needed, but could take years to implement.

Bitcoin payments now possible everywhere in the Netherlands; here’s how it works.

Analyst says Bitcoin price could soar like a strong spring to $110k.

Cardano founder responds to severe criticism from the community.

TAGGED: crypto, crypto scams, Philippines, Scam, Scams

Stay informed with the latest Crypto News

Sign Up for Our Newsletter Today!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Twitter Whatsapp Whatsapp Reddit Telegram Email Copy Link Print
Share
Unveil Your Crypto-Clues: Express with Emojis!
Joy0
Surprise0
Embarrass0
Sad0
Cry0
Angry0
Sleepy0
Dead0
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay connected

Follow us on Social Media
1.2k Followers Follow
Telegram Follow

Stay Informed with the Latest Crypto News:

Sign Up for Our Newsletter Today!

Popular News
Victims of Voyager's Billion-Dollar Loss to Receive Some Crypto in Return
Victims of Voyager’s Billion-Dollar Loss to Receive Some Crypto in Return
Revealed: Is Blockchain the Future of Travel and Aviation?
Revealed: Is Blockchain the Future of Travel and Aviation?
Major crypto exchange receives support in important legal case.
Major crypto exchange receives support in important legal case.

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Telegram
Cryptodetective blank

Stay one step ahead of the game with CryptoDetective.net - Your trusted source for all things crypto. From the latest news and trends to expert analysis and insights, we've got you covered.

Subscribe to our newsletter

Stay Informed with the Latest Crypto News: Sign Up for Our Newsletter Today!

Important pages

  • About cryptodetective
  • Disclaimer
  • Team
  • Privacy Policy
  • Sitemap
Copyright © 2023 Cryptodetective.net. All rights reserved.
Welcome Back!

Sign in to your account

Lost your password?