"Mentor" Recommends Cryptocurrency, Yangpu Police Intervenes and Recovers 750,000 Yuan

"Mentor" Recommends Cryptocurrency, Yangpu Police Intervenes and Recovers 750,000 YuanThe Siping Road Police Station of the Yangpu Branch of the Shanghai Municipal Public Security Bureau recently successfully stopped a telecommunications network fraud case, recovering 750,000 yuan in economic losses for the victim, Mr. Cao

"Mentor" Recommends Cryptocurrency, Yangpu Police Intervenes and Recovers 750,000 Yuan

The Siping Road Police Station of the Yangpu Branch of the Shanghai Municipal Public Security Bureau recently successfully stopped a telecommunications network fraud case, recovering 750,000 yuan in economic losses for the victim, Mr. Cao.

The incident stemmed from Mr. Cao clicking on a stock recommendation advertisement link while browsing the web, leaving behind his personal information. Subsequently, a person claiming to be a "stock assistant" added his WeChat and strongly urged him to watch the live stream of a certain "senior stock mentor." This "mentor" claimed to possess profound qualifications and extensive experience, which Mr. Cao deeply believed, becoming a "die-hard fan" who watched the live stream every day for two months.

During the live stream, the "mentor" revealed an "inside tip" to Mr. Cao, claiming that buying "digital currency" on a certain trading platform could make big money, and encouraged him to invest together. Mr. Cao, moved by the prospect, unhesitatingly purchased a "digital currency" called "Lucky User." After several rounds of investment, Mr. Cao, observing the "digital currency" soaring in value, became even more confident in his investment and wanted to continue buying boldly.

However, just as Mr. Cao was about to increase his investment, the Siping Road Police Station received a warning signal indicating that Mr. Cao was likely a victim of telecommunications network fraud. The police immediately went to his home to dissuade him from the fraudulent activity. However, Mr. Cao insisted that the "digital currency" he had purchased was a legitimate investment product obtained through official channels, with high returns, and did not believe he was being scammed.

With their vast experience, the police officers calmed Mr. Cao's emotions while guiding him to attempt a withdrawal on the investment trading platform. The platform, however, refused Mr. Cao's withdrawal request on the grounds that "the 'digital currency' is newly listed for subscription and cannot be traded for the time being." At this moment, Mr. Cao finally realized that he might have been tricked.

After understanding the situation, the police promptly initiated a stop payment process for each of the implicated accounts to which Mr. Cao had transferred money. They then traveled over 2,200 kilometers from Shanghai to the location where the accounts were opened to apply for freezing the funds and their return to Mr. Cao. Ultimately, the police successfully recovered 750,000 yuan in economic losses for Mr. Cao.

On July 30th, Mr. Cao presented a banner of gratitude to the police station. He expressed that if the police hadn't intervened and dissuaded him in time, he might have suffered heavy losses. This experience made him realize the pervasive nature of online scams, urging him to be vigilant and not easily believe investment projects recommended by strangers.

Police Reminder:

• Be cautious when investing, do not easily trust investment projects recommended by strangers, especially be wary of "high-return, low-risk" investment traps.

• Do not click on links from unknown sources, and do not disclose your personal information indiscriminately.

• In case of suspicious situations, immediately report to the police or call the anti-fraud hotline 96110.

Case Analysis:

This case once again proves the danger of online scams. Fraudsters exploit victims' desire for high returns, using various methods to lure them into investing, ultimately leading to financial losses.

It is worth noting that the fraudsters in this case used the emerging concept of "digital currency" to carry out their deception. They leveraged people's lack of awareness about "digital currency" and the investment craze to create fake investment projects, deceiving victims into falling for their schemes.

Preventive Measures:

• Be vigilant, do not easily believe investment projects recommended by strangers.

• Carefully read the investment agreement and understand the investment risks involved.

• Do not easily invest funds in unregulated platforms.

• In case of suspicious situations, promptly consult with professionals or report to the police.

Conclusion:

Online scams are constantly evolving. The police urge the public to be vigilant, enhance their awareness, and avoid becoming victims of online fraud. At the same time, we hope that relevant departments will strengthen supervision, crack down on online fraud crimes, and maintain a healthy online environment.