Fraud Operation Dismantled in Yuxian County
In an operation orchestrated by the Criminal Investigation Detachment of the Yuxian Public Security Bureau and the local Party Committee, authorities in Yuxian County, Hunan Province, have dismantled a sophisticated fraud operation involving the cryptocurrency Tether (USDT) on July 24th. The police apprehended three individuals identified as Tang, Zhang, and Xu, who were allegedly the masterminds behind the scheme.
Evidence Seized During the Raid
During the raid, law enforcement seized a wealth of evidence, including:
- Over 30 mobile devices
- More than 10 computers
- Numerous overseas SIM cards
All of these items were integral to their operations.
Modus Operandi of the Fraudsters
Investigation revealed that since April 2025, the suspects had been employing a range of international SIM cards to set up fake profiles across various social media platforms, including Telegram, WhatsApp, and Twitter. The fraudsters primarily portrayed themselves as:
- Affluent single women
- Expatriates
- Cryptocurrency enthusiasts
They used altered images of Zhang to enhance their deception, targeting men aged 26 and older residing outside of China.
Building Trust and Manipulating Victims
Furthermore, the suspects employed a calculated approach to build trust with their victims by initiating romantic dialogues before seamlessly transitioning the conversation toward investing in cryptocurrency. They successfully encouraged victims to purchase USDT and transfer it into a designated Trust wallet.
Consequences of the Fraud
To further manipulate the victims, the con artists purportedly promised them enhanced mining opportunities, airdrop rewards, and various enticing incentives. This was merely a setup for their actual scheme; once victims clicked on the links provided, they unknowingly downloaded a trojan virus that enabled the perpetrators to siphon off cryptocurrency from their Trust wallets, leaving many out of pocket and victimized by this intricate fraud operation.
