We are now representing a very large number of victims of online trading scams who have invested money in cryptocurrency trading (Bitcoin, Ethereum, etc.) via purported online trading platforms on the recommendation of a (mostly) Chinese woman (or a Chinese man). . With this scam, the fraudsters use on the one hand the emotional yearnings of the virtual partner search and on the other hand the hype about crypto, Bitcoin & Co. Many of our customers damaged by the Love Scam have invested very large sums of several hundred thousand euros each.
hoax “Social Engineering”
In most cases, contact is established through dating platforms such as Tinder or similar. Recently, more and more customers have told us that strangers have been messaging them on Instagram or even WhatsApp, pretending it was a mistake.
This crypto love scam is not recognizable as such at first glance. Because the crypto dating scammers invest a lot of time in their victims and cultivate a relationship until so much trust is built and the victim is ready to be exploited.
This scam is called “sha zhu pan” (杀猪盘) “pig slaughter” in Chinese because the scammers daily flatter their victim and make him feel good before cheating – just like a farmer fattens a pig before slaughter. Some customers tell us that the scammers text them 40 to 50 times a day for months. This type of psychological manipulation is called “social engineering”.
Only when sufficient trust has been built up is the topic of online cryptocurrency trading addressed – usually quite casually.
The fraudsters go to great lengths to guide the trading victims through the crypto purchases, for example via reputable exchanges such as Coinbase or Binance. It is not uncommon for them to – allegedly – pay for the victims themselves in order to persuade them to make further payments.
The contacts of the alleged online partners remain purely virtual at all times. All of our crypto dating scam clients consistently report that their online partner refuses to meet them in person or make a video call, claiming that they are too shy and not ready, or that the connection is not working. This anonymity is a dead giveaway of a trading scam.
“Don’t let the scammers get away!”
“Many clients cannot understand how they could have fallen for such a scam and blame themselves. However, the scammers act extremely professionally, so there is never any suspicion that they are the victims of a fraud. So it can happen to anyone. We represent clients from all walks of life and professions who have fallen victim to such love scams,” says attorney Tanja Nauschütz of Plan C, a law firm specializing in commercial fraud. “95% of commercial fraud cases go undetected because most victims are ashamed. So don’t let the fraudsters get away with reporting fraud.”
What can victims of crypto love scams do?
- Don’t keep paying
If you fear that you have fallen victim to a love scam (read here: The following warning signs indicate a love scammer: https://kanzlei-plan-c.de/news/love-romance-scam-kryptowaehring/), you should under no circumstances circumstances make further investments or payments to the broker or to anyone else, such as a chargeback or recovery provider, who promises to get your money back. It also often happens that the perpetrators present forged documents, for example from BaFin, Blockchain or similar bodies, in order to persuade the victims to make further payments (see: https://kanzlei-plan-c.de/news/betrugerischer – broker -investarea-com-fictitious-bafin-homepage-and-logo/).
Be very careful! You will not voluntarily get your money back from the fraudulent broker. Paying more will only increase your damage.
Do not open other accounts or give out private data, these can be used by the fraudsters for money laundering (Warning: Identity Theft: https://kanzlei-plan-c.de/news/achtung-victimen-von-krypto-trading-fraud-droht-further-damage-through-identity-thief/)
Secure all evidence and means of communication such as screenshots of the online trading platform and your trading account, alleged photos of your online partner, emails, phone numbers, verification processes, saved chat messages, etc.
- Act fast by hiring a business fraud attorney
If your trading scam is still fresh and you may still be in contact with the scammers, you should take advantage of this. Do not waste time and immediately contact an attorney who specializes in online commerce fraud and file a criminal complaint or have the attorney do so.
How do I get my money back?
Many victims of such crypto love scams believe that their money is lost anyway. The scammer is usually somewhere overseas and does not appear to be identifiable. The fraudster often cuts off contact when the fraud is discovered or the victim stops paying. The trading platform is often no longer online or the trading account is blocked. The payments were mostly made in cryptocurrencies via various crypto exchanges on the wallets of the perpetrators and do not seem comprehensible to the victims. But the perpetrators leave traces.
Rely on a specialized lawyer with knowledge of blockchain forensics
“However, there are different ways to find the perpetrators and trace the payments,” reports lawyer Tanja Nauschütz. “A normal standard legal letter will get you nowhere here. This requires special knowledge in IT forensics, from IP address logging to crypto/blockchain tracking. Blockchain is not as anonymous as many people think. Because the information about transaction data and payment partners can be traced using transaction data stored in the blockchain. For example, payment flows in Bitcoin transactions can be traced very well. Blockchain tracing enables the activities of the payee to be evaluated and can provide valuable clues about the identity of the perpetrator. Victims of fraud with crypto trading should take advantage of this opportunity,” advises lawyer Nauschütz.
With the right plan for success
If you have become a victim of crypto trading fraud through the Love Scam (see also: https://kanzlei-plan-c.de/aktuelle-faelle/online-trading-betrug/), the law firm’s plan C is at your disposal disposal with a well-grounded and competent advice and enforcement of your claims.
We analyze your situation and explain to you what steps are now necessary and promising to get your trading money back. We secure your evidence, report investment fraud to the Federal Financial Supervisory Authority (BaFin) and other authorities for you, investigate your compensation claims and the possibility of recovering your funds and initiate criminal proceedings. In order to enforce your claims as effectively as possible, we work closely with the responsible authorities and prosecutors as well as IT specialists. We contact the receiving banks and payment service providers to obtain information and additional information about recipient accounts or, if necessary, call for legal assistance. We also take steps to reduce the risk of identity theft.
We now represent numerous victims of love scams and know the pitfalls and intricacies of these cases. Thanks to our experience with crypto fraud through love scams and our targeted forensic measures, we have often been able to track down the perpetrators.
Tanja Nauschütz, a lawyer specializing in banking and capital market law and investment fraud, has been very successful in representing aggrieved investors for 22 years.
You have the right to honest advice – Kanzlei plan C