SCAMMERS INVOLVED IN CRYPTOCURRENCY OPERATIONS CLAIM TO BE "INVESTMENT MATTERS":

Chinese police in Shanghai have cracked down on a cryptocurrency scam ring that posed as "investment masters" to defraud victims. The scammers, led by individuals named Yang and Yu, infiltrated online investment groups and directed unsuspecting individuals to a fake cryptocurrency trading platform.

Once on the platform, victims were convinced to make multiple trades, generating high fees for the scammers.

The scammers used tactics like citing a "profit and loss ratio" mechanism to convince victims to increase their investments, making it seem like their losses were due to poor market decisions rather than the fraudulent platform.

The Shanghai police arrested 16 people connected to the scam and are investigating further.

This case highlights the importance of being cautious when investing in cryptocurrencies and doing thorough research before trusting anyone claiming to be an "investment master."