TOYAMA (TR) – Police here have revealed that a woman in her 60s was defrauded of nearly 195 million yen in a romance and cryptocurrency investment scam orchestrated through social media, reports the Hokkoku Shimbun (July 22).
The Toyama-Chuo Police Station announced on July 21 that the victim, originally from Kyoto Prefecture but residing in Toyama Prefecture during the ordeal, was swindled out of a staggering 194,787,009 yen between June of last year and February 5.
According to police, the staggering sum marks the second-largest fraud loss in the prefecture this year, trailing only a 201-million-yen scam involving a man in eastern Toyama.
The scam began around last June when the woman received a Facebook message from a person claiming to be a man. The two quickly moved their conversation to the messaging app LINE, where the suspect cultivated a romantic bond and gained her trust.
Phony trading platform
The scammer eventually pitched a lucrative opportunity, telling her that major profits could be made through gold trading. After an initial cryptocurrency purchase of about 100,000 yen appeared to yield a quick return on a phony trading platform, the woman was hooked.
Urged by the suspect to “increase her profits,” she subsequently transferred approximately 48.7 million yen in cryptocurrency across seven transactions to a designated address. When she attempted to withdraw her supposed earnings, the scammer blocked the move, claiming she first needed to pay taxes on her massive profits.
Believing the lie, the woman made three massive bank transfers starting January 30, sending sums of 46.2 million, 49.6 million, and 50 million yen to accounts designated by the suspect.
“I never thought it was a scam”
The scheme finally unraveled when a financial institution flagged the rapid, high-value transfers and contacted her. After discussing the matter with her family, they pointed out she was being conned, prompting her to file a police report.
Despite being aware of modern fraud tactics, the woman was left devastated.
“Because we had communicated so much beforehand, I trusted him completely,” she told police. “I never thought it was a scam.”
