“Cryptocurrency Trade Counsellor” Fleeced Investors for over ¥72 Million in China
A scammer successfully made more than ¥72 million by providing consulting service for cryptocurrency investors.as he claims himself a “cryptocurrency trade counsellor”.
The scammer named “AK”, a Weibo (Twitter-like media) celebrity who built a Wechat group to provide consulting service for cryptocurrency investors. The scammer asked investors to pay $ 0.03million monthly before joining the Wechat group. “AK” promised investors more than 30% payback under his guidance. However, many investors in the group gain far less than $ 0.03 million they paid to “AK”.
“AK” knows the cryptocurrency investors’ mindset well, make use of their desire of making money in a short period. By inflammatory words, sophisticated trading chart or articles, creating an image of a accomplished trader on his Weibo, thus attracting speculators to pay huge amount of fees to join the group.
“AK” skillfully combines chat records with K-line chart, matches the chat records with the points on K-line one by one. It seems that “AK” is good at short-term trading, but in fact he never shows investors the loss. This creates an illusion of stable profits, fooled by inflammatory words and financial terms, cryptocurrency investors are easily cheated.
AK’s goal is for people who think they are intelligent and wealthy. After all, the admission fee is $30,000 a month. In order to highlight his professional skill, AK will also expose show his stock, gold, bulk futures trading orders from time to time, highlighting that he is a professional and trustworthy trade counsellor. It is said that AK’s monthly income can reach ¥ 6 million. Compared with private funds, AK’s way can make a lot of money without risk.
No one knows his real identity though he’s so active and earns millions of money. In fact, neither his fans nor friends have ever met AK’s face-to-face. Some people even suspect that AK’s QQ and Weibo are all black account, and the bounded ID cards are not his own. On the contrary, the scammer asked investors give their photos with ID cards for him.
Earlier this month, a new-type crypto Ponzi scheme named CXC emerges in China. Nowadays, many investors turn to “Shitcoin” or even “ trade counsellor” to take a shortcut. No matter “Shitcoin” or “ trade counsellor”, the scammers always play trick on fund exchange, and promise investors stable payback.