Bitcoin Pishing Scam Goes Wrong

[OasisDre]

273 Chinese nationals were arrested in the Philippines, accused for defrauding more than one thousand investors in an alleged Bitcoin scam syndicate as per information from coindoo...

Read the full news here
https://coindoo.com/273-bitcoin-scam-suspects-arrested-in-philippines/

I hope in future more of these criminals will face karma one way or the other and people should stop trying to double bitcoin without working for it, its simply greed

[davis196]

I've never visited any crypto website that asks for your private keys.
Coin giveaways in exchange of downloading some shady software or app?People should be really naive,in order to fall into such bullshit scams.I'm glad that the scammers were arrested.The police in the Philippines should keep it up with the good work.

[Byakuga]

Its very surprising how some people can just decide to give a try to something they knew anything about,i guess that's why they keep falling for this kind of cheap tricks, same thing is happening to newbies on this forum, they don't care about learning first and they want to make quick money which makes them do lots of mistakes before they start learning

[boris2470]

273 Chinese nationals were arrested in the Philippines, accused for defrauding more than one thousand investors in an alleged Bitcoin scam syndicate as per information from coindoo...

Read the full news here
https://coindoo.com/273-bitcoin-scam-suspects-arrested-in-philippines/

I hope in future more of these criminals will face karma one way or the other and people should stop trying to double bitcoin without working for it, its simply greed

Typically, investors are attracted over favorable conditions. They want to increase their fortunes, and as a result fall into the hands of fraudsters, as happened in this case. Especially when it comes to getting a large number of Bitcoins, it sounds extremely attractive

[Cityhunter123]

Such scammers should be immediately imprisoned, they only hinder the development of the crypto industry

[Baby Dragon]

Its very surprising how some people can just decide to give a try to something they knew anything about,i guess that's why they keep falling for this kind of cheap tricks, same thing is happening to newbies on this forum, they don't care about learning first and they want to make quick money which makes them do lots of mistakes before they start learning

Its because newbies are still lack of knowledge and they need some guidance, those scammers should face the consequences because its was their choice in the first place. They are just putting themselves into some sort of trouble, people nowadays must be aware in this kind of scam to be prepared and be able to avoid it because scammers are everywhere.

[Mandoy]

Phishing incidence is the Philippines is very rampant and many Filipino cryptocurrency enthusiasts/users have already been a victim of this kind of hacking activities and scams. Some of them were my colleagues and friends and have lost a significant amount of cryptocurrency. The Philippine government have no clear regulations and have no system to track and trace the culprits and so I am very happy to hear that some Chinese nationals were caught and put this justice.

[coin-investor]

273 Chinese nationals were arrested in the Philippines, accused for defrauding more than one thousand investors in an alleged Bitcoin scam syndicate as per information from coindoo...

Read the full news here
https://coindoo.com/273-bitcoin-scam-suspects-arrested-in-philippines/

I hope in future more of these criminals will face karma one way or the other and people should stop trying to double bitcoin without working for it, its simply greed

According to the news they work as an exchange, they are located in one of the provinces in the Philippines and they are regulated by the Economic Zone where they are located, I watched the interview of the Economic zone lawyer and these company is being monitored and they pay their taxes and obligations to the Economic Zone authority, I was surprised, there's a different story here.

They should first be investigated, there are many Chinese coming here to set up this kind of activity and trying to cover their front by establishing as a legit entity.

[serjent05]

According to the news they work as an exchange, they are located in one of the provinces in the Philippines and they are regulated by the Economic Zone where they are located, I watched the interview of the Economic zone lawyer and these company is being monitored and they pay their taxes and obligations to the Economic Zone authority, I was surprised, there's a different story here.

They should first be investigated, there are many Chinese coming here to set up this kind of activity and trying to cover their front by establishing as a legit entity.

Several of these scam company do registered but the way they operate is far different than what service they had registered.   They hide their activities by pretending that they follow regulation and pay taxes but behind those are their scummy ways.  So it is not a surprised for me if such thing happen in this case. 

They should also punish those government officials invovled in this case. 

[audaciousbeing]

273 Chinese nationals were arrested in the Philippines, accused for defrauding more than one thousand investors in an alleged Bitcoin scam syndicate as per information from coindoo...

Read the full news here
https://coindoo.com/273-bitcoin-scam-suspects-arrested-in-philippines/

I hope in future more of these criminals will face karma one way or the other and people should stop trying to double bitcoin without working for it, its simply greed

When I get to read news like this, I am just glad and its because its about unraveling the people who hide behind crypto to perpetrate crime thinking that they can go away with it. Just yesterday I had read about a report of where kidnappers demanded to be paid in bitcoin so as to avoid being tracked by government agents and bring them to book for their actions. This make me wonder that an emerging technology that is changing the way we do things is about to be bastardized by people who cannot see beyond tomorrow.

This is actually another exposure to people to stop falling for cheap scam on the internet that promises them unimaginable return within a short period of time. Its simply an avenue to lure their resources away from them for some people to pleasure over.

[yazher]

How can they do this with the name of Bitcoin? another news like this will gives bitcoin a bad image again.
and if this people will not get sentence they will do it again. they really need to spend some times on jail
maybe they can get the way out of jail after the all of the bitcoins have been mined. 

[TravelMug]

The people behind are taking advantage of Philippines CEZA's policy here,

https://ceza.gov.ph/article/crypto-exchange-market-boosted-central-bank-philippines

And they operate outside of the jurisdiction, problem is how the company was able to set up everything without the connivance of Philippine officials?

Anyway, it's good the the authorities caught those criminals, they should be sent back to China and face the consequences since they defraud their own people.

[auntyjmary]

Some tricks are so cheap to fall for when  it comes to malware and phishing sites. It is so strange how people can be very greedy to follow links that promises them free money or whatsoever without having to work for it. People who fall such tricks are mostly greedy or novice who are new to such tricks.

[Furryball]

Newbies don't want to work hard to earn bitcoin so they easily fell for 20x btc doublers around the web, they never want to learn either if not they would have come across members warnings about ponzi/phishing and other crypto scamming activities

[Bountyhonter]

Only newbies who don't know much about crypto fall for this types of scam

[BitHodler]

Only newbies who don't know much about crypto fall for this types of scam

That's exactly what they are after. The crypto ecosystem is constantly growing in terms of adoption, so these scams will not run out of newbies to steal from unfortunately, but surf these adoption waves to maximize their profits....

It shouldn't come as a surprise that more scams pop up each time the price goes up a lot, because the price is exactly what most people enter crypto for. These scammers know that and use that momentum in their advantage.

People saying that newbies are too naive and greedy are certainly right, but come on, we've all been at a point where we did stupid things that lead to a loss. Losing money is the most efficient wake-up call there is.

[TimeTeller]

According to the news they work as an exchange, they are located in one of the provinces in the Philippines and they are regulated by the Economic Zone where they are located, I watched the interview of the Economic zone lawyer and these company is being monitored and they pay their taxes and obligations to the Economic Zone authority, I was surprised, there's a different story here.

They should first be investigated, there are many Chinese coming here to set up this kind of activity and trying to cover their front by establishing as a legit entity.

Several of these scam company do registered but the way they operate is far different than what service they had registered.   They hide their activities by pretending that they follow regulation and pay taxes but behind those are their scummy ways.  So it is not a surprised for me if such thing happen in this case. 

They should also punish those government officials invovled in this case. 

The legal registration is only a front of their hidden illegal activities.
It is easy to deceive users if they have legal documents in place.
However, people should look into their registration also as they are only entitled to operate in one area (Pasig City) but extend their services to other parts of Metro Manila.
And also, they are not in any way registered to do any crypto dealings, so the blame is on those users as well, they haven't done their due diligence before doing business with them.
But in general, a good catch by authorities. But another bad news that will give notion to ordinary consumers that dealing with crypto is really shady.

[Oceat]

That's a lot of scammers. Lol

It seems that most people from the Philippines doesn't know how Bitcoin works yet. I guess they were newbies trying to double their money to any type of pyramid scheme, too sad for them, they were being played out with those Chinese nationals. Luckily they were arrested and it seems that someone with a brain know what to do.

[xvids]

That's a lot of scammers. Lol

It seems that most people from the Philippines doesn't know how Bitcoin works yet. I guess they were newbies trying to double their money to any type of pyramid scheme, too sad for them, they were being played out with those Chinese nationals. Luckily they were arrested and it seems that someone with a brain know what to do.

Well I hate to agree with youbut I think you are right about it.
Most of my fellow countrymen doesn't really know about it and only thinks of it as a token for investment or an investment tool.
Let's just hope that the people who got scammed would get back their money and for those scammers to be put in jail .
They deserve it people are working hard to earn money and most of us are looking for a way to earn some extra cash and I guess that's the reason why they got scammed.

[Kakmakr]

It just shows you how clever these Chinese scammers are, because they relocated to another country to scam their own people. <The article stipulated that they "conned more than 1000 Chinese investors."  

Luckily for those investors the Chinese government reacted quickly and they will be deported to their country, as their international passports have been canceled by the Chinese government.    

We see a lot of Bitcoin scammers relocating to sovereign islands to execute their scams, in the hope that they would not be extradited to their country of origin and also for the tax breaks.