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Philippine Police Uncover Crypto Scams, Rescue Over 1,000 Human Trafficking Victims: Report
Over 1,000 human trafficking victims who were forced to work up to 18 hours a day for cryptocurrency scams have been rescued by the Philippine National Police (PNP). The 12 suspected ringleaders were arrested by authorities and are facing human trafficking charges. These include seven Chinese nationals, four Indonesians and one Malaysian. Crypto Fraud Ring Busted According to a local media report, the victims immediately accepted the job offers after the perpetrators lured them with free flights and accommodation. However, upon their arrival, their passports were confiscated and they were forced to work up to 18 hours a day, in addition to pay deductions for contact with colleagues...
Philippine Police Uncover Crypto Scams, Rescue Over 1,000 Human Trafficking Victims: Report
Over 1,000 human trafficking victims who were forced to work up to 18 hours a day for cryptocurrency scams have been rescued by the Philippine National Police (PNP).
The 12 suspected ringleaders were arrested by authorities and are facing human trafficking charges. These include seven Chinese nationals, four Indonesians and one Malaysian.
Crypto fraud ring busted
According to a local media report, the victims immediately accepted the job offers after the perpetrators lured them with free flights and accommodation. However, upon arrival, their passports were confiscated and they were forced to work up to 18 hours a day, in addition to pay deductions for contact with colleagues or extended breaks.
An official revealed that a total of 1,090 people were rescued after being trafficked from multiple nations and held captive to forcibly carry out online fraud. The workers came mainly from Asia, including Vietnam (389), China (307), the Philippines (171), Indonesia (143), Nepal (40), Malaysia (25), Myanmar (7), Thailand (5), Taiwan (2), Hong Kong (1).
PNP Anti-Cybercrime Group (ACG) spokesperson Michelle Sabino announced that she has arrested at least 12 suspected ringleaders believed to be the operators of a fraudulent organization called Colorful and Leap Group Co. All were subject to human trafficking investigations before the Department of Justice in Manila.
In a statement to the media, Sabino noted that the operators trained workers to trick strangers into buying cryptocurrency or depositing funds into fake bank accounts after establishing fake romantic relationships. The scams primarily targeted unsuspecting people in the United States, Europe and Canada.
"You will build a promise of a good future together. Let's buy a house, buy a car, invest money or do business together."
Rampant crypto romance scam
CryptoPotatopreviously reported that scammers had changed their tactics in the bear market. One that gained notoriety was – crypto romance scams – where bad actors establish romantic relationships with victims through online platforms to trick them into stealing funds using various methods.
This includes requesting crypto directly or offering any form of fraudulent investment advice or malicious links to apps and websites that can empty the victim's cryptocurrency wallets.
In a similar case, a 60-year-old Indian woman lost nearly $30,000 in a crypto investment scam after being approached on the matrimonial site in March.
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