A man from Nantou, Taiwan was defrauded out of NT$700,000, and his son came up with a plan to get the money back.
According to (China Television News), a man in Nantou was accidentally deceived by a fraud group and invested 700,000 yuan, but he has been unable to get back the principal. When the son learned that his father had been defrauded, he decided to personally recover the money that had been defrauded.
The fraud group first used photos of beautiful women to greet the father and promised highly profitable investment plans. After some persuasion from the other party, my father was persuaded to invest 700,000 yuan. However, when he wanted to withdraw his profits, he found that he couldn't get even half a cent back.
After hearing that his father was scammed, the son decided to turn the tables. He played three roles: first pretending to be his father, claiming to the fraud group that he urgently needed to withdraw funds; then falsely stating he would introduce two friends who wanted to invest 500,000 and 1,000,000 respectively, actively inquiring about investment details. In the back-and-forth, the fraud group thought they had encountered a bigger 'prey' and actually returned 700,000.
This news sparked heated discussions among Taiwanese netizens, with some joking that the son was 'using magic to fight magic', while others commented: 'Stronger than the Ministry of Digital Affairs', 'What the Ministry of Digital Affairs can't do, the people did...'.
Fraud is rampant in Taiwan, and cryptocurrencies are often exploited.
According to statistics from the Nantou County Government, from January to November this year, the county has handled 3,012 fraud cases, with total financial losses exceeding 1.2 billion. Among them, investment fraud cases are particularly rampant, and even the portrait of County Mayor Hsu Shu-hua was impersonated by fraud groups.
Not only traditional investment fraud, but scams in the cryptocurrency sector are also emerging endlessly. Fraud groups often exploit the public's curiosity and profit expectations regarding emerging investments, setting various traps, such as enticing investors through free token giveaways, excessive promotion, and false promises.
How should you prevent fraud?
The police and professional institutions have provided several anti-fraud suggestions. According to (Public Television News Network) reports, Nantou Zhushan Police Station Chief Chen Ying-zhi stated that the public should use legal channels when managing finances and verify cautiously. The police will never ask for regulatory accounts, nor will they use communication software to transmit official documents, let alone collect payments in person.
The on-chain financial analysis tool Bitquery also recommends that if you are interested in cryptocurrency investment, you should first read the project's white paper in detail to confirm its professionalism and reliability, and verify the background and experience of the development team.
In terms of cybersecurity, maintain a high level of vigilance against free token giveaways and use cold wallets to store large amounts of funds and regularly update wallet software to prevent risks of cryptocurrency asset theft.
If unfortunately you encounter fraud, you should quickly change the passwords of related accounts, enable two-factor authentication, back up your private keys, and report to the police as soon as possible. Professional blockchain analysis tools can assist in tracking stolen funds and increase the chances of recovery.
Most importantly, when faced with seemingly high-profit investment opportunities, it is essential to remain vigilant and rational. Remember, there is no free lunch in this world; any overly tempting investment may hide fraud risks.
Must-read for cryptocurrency fraud prevention:
Have I been scammed by virtual currency? A self-help guide for cryptocurrency fraud.
[Disclaimer] The market has risks, and investment should be cautious. This article does not constitute investment advice, and users should consider whether any opinions, viewpoints, or conclusions in this article fit their specific circumstances. Investing based on this is at your own risk.
'Dad was scammed for 700,000! The son played three roles to get the money back, and netizens praised: stronger than the Ministry of Digital Affairs.' This article was first published on 'Crypto City'.