Crypto Scammers Targeting Japan’s Elderly Singles on Social Media

As cryptocurrency becomes more mainstream, scams involving crypto have also increased. In Japan, elderly singles have become the latest targets of crypto scammers on social media platforms and dating apps.

According to Nikkan Gendai, a financial consulting firm’s advisor, Kuroiwa Yasushi, stated that “elderly singles are lonely, and I understand that. However, they may fall prey to scammers who are currently scheming. Those who fall victim to crypto fraud are coming out one by one.”

Kuroiwa provided an example of a 60-year-old male customer who contacted him for advice on Bitcoin during their conversation. The man revealed that he was talking to a “woman” on a dating app who wanted him to invest in BTC through some platform.

Recently, it seems that crypto scammers who use dating apps are eager to take their victims to fraudulent crypto trading platforms. On the other hand, Nico Video reported that crypto traders are scamming younger people on social media platforms such as Line, Twitter, and Instagram. The media reported that these scammers are offering guaranteed high profits of up to 40% on their investments.

In many cases, crypto scammers pretend to be rich and attractive young men to lure young women into joining their “crypto investment training programs,” which turn out to be scams.

One victim of a crypto scam lost more than $56,000 after being deceived by fraudulent crypto trading. He reportedly met a man on a dating app who convinced him to invest in BTC on a fake platform. When the victim tried to withdraw his profits, the platform suddenly disappeared, leaving him with nothing.

Crypto scams continue to spread as cryptocurrencies become more popular worldwide. Authorities warn the public to be cautious when it comes to crypto investments and to avoid making hasty decisions. They also urge people to report suspicious activities to the authorities to prevent further victimization.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like