A 55-year-old woman surnamed Wu from Xindian, New Taipei City, was defrauded by a fraud group on the Internet. The other party claimed that she could make huge profits by investing in Tether. From early May to late June, Wu made 14 face-to-face transactions and invested 15 million yuan. Finally, she realized that she had been deceived and reported the case.

According to reports from the Liberty Times and Sanli News, in May this year, a 55-year-old woman surnamed Wu from Xindian, New Taipei City, who worked as a private enterprise executive, saw a message sent by an unknown person on Facebook, claiming that she had won a lottery to purchase Tether coins. Qualification, so he joined the LINE group. The other party claimed that investing in TEDA currency could be highly profitable, thereby attracting Wu Nu to invest.

Investing in USDT, 14 face-to-face transactions! 15 million savings were defrauded

Afterwards, Ms. Wu joined the Line group as instructed by the other party. She was brainwashed by the other party with various rhetoric and believed it without a doubt. From early May to the end of June, she met with the withdrawal personnel sent by the other party 14 times, and each time she delivered cash ranging from 100,000 to 4 million yuan, with a total amount of up to 15.05 million yuan.

Finally, when Ms. Wu wanted to sell the Tether for cash, the other party claimed that her account was frozen and that more money was needed to unlock it. Ms. Wu later complained to her daughter and realized that she had been deceived. She reported the case to the police. After coordinating with the police, she decided to play along and meet with the fraud group again.

At around 6 p.m. on the 10th, Ms. Wu met a 22-year-old driver named Wang in a coffee shop on Section 3, Zhongxing Road, Xindian, and agreed to hand over 310,000 yuan in person. As soon as the six police officers saw the driver named Wang appear, they controlled and arrested him, and seized more than 6,000 yuan of criminal proceeds, 4 virtual currency transaction customer declarations, 2 packets of drug coffee, a spring dagger, a mobile phone and other evidence.

Note: Tether, also known as USDT, is a stablecoin whose value is backed by assets. It is often used by fraud groups to defraud users through two methods: black U and "fake U".

When questioned by the police, the driver surnamed Wang confessed that at the end of June, he met a man named PETER on the Internet. He was paid NT$30,000 a month and asked him to help collect the money, which would then be handed over to another specialist named Huang. He did not know the other party and had not received the salary yet. However, the police had doubts about the driver surnamed Wang's statement. After the police questioning, the case was transferred to the Taipei District Prosecutor's Office for investigation on suspicion of fraud and drug crimes. The driver was also punished for carrying a switchblade in violation of the Social Order Maintenance Act, and the case was traced back to the source.

Frequent online fraud

Recently, there have been frequent cases of virtual currency fraud, and fake celebrity investment fraud advertisements have emerged in an endless stream. A 67-year-old man named Zhong from Taoyuan City recently mistakenly believed an article posted by "Investment Celebrity - A Tu Bo" on a Facebook group about investing in virtual currency to make huge profits. He invested 20.58 million yuan in two months, and later realized that he had been cheated.

Xindian Police Branch reminds that virtual currencies are constantly being updated. If investors want to invest, they are advised to choose trusted investment channels and not to trust unknown investment groups or investment websites on the Internet. They must check again and again to avoid losing all their money in the end.