Through the notification of some of the adopted Chinese, the Turkish police last night busted a Chinese gang for kidnapping workers and forcing them to run a crypto scam.
According to a local news agency, Demirören Haber Ajansı the crypto scam outfit hired 101 people to join them for a finance gig in Istanbul. They were reported to a “crypto investment consultancy” which through it lured its victims to defraud coming Chinese investors of cryptocurrency.
The news disclosed that the gang trapped its employees in villas within the city and that the employees are set to work conning Chinese investors out of their crypto.
Anadolu Ajansı news agency reported that the alleged employees who were allegedly held against their will by the 18 crypto scam leaders included four Kazakhs, two Turkmens, and 95 Chinese nationals. The raid was possible when two Chinese captives, Hongwu Z. (29) and Kang W. (28), secretly contacted the Chinese Consulate who in turn alerted the local police.
Upon being alerted, the police arrested six gang leaders while the rest of the employees were sent to the local immigration authorities.
In the raid that involved 100 police, about $200k worth of cash in foreign currencies was seized. Other items include 712 cell phones, 112 computers, 677 sim cards, and an undisclosed number of hard disk drives and banknote counters.
The local news says the suspected scheme operated from nine villas, each housed in complexes sealed off from the outside. Employees were not allowed to step outside the complexes as their tourist passports were taken away.
Meanwhile, the leaders of the operations were reportedly generous as they pay their employees well, around $1,000 which is far above the Turkish minimum wage of $375 per month.
How to stay away Such Crypto Scam
Having seen the increasing rates of crypto scams, there are a handful of things to do. Some of them are your due diligence while the rest aren’t but depends on the platforms you use.
Among the ways of staying out of scam is to do the following;
- Know the various kinds of crypto scams. For instance, phishing scams and how to avoid them according to this article.
- Choose a good and secure crypto wallet; cold or hot wallet, depending on the class of crypto holder you are.
- Avoid greed and stay away from shady schemes promising certain returns like the one in this article.