It's quite similar to the scams reported outside the Philippines. According to the article, here’s what they do.
Santiago said FXTM uses social engineering, love scam, impersonation scam, phishing links and malicious websites to lure people to invest in its cryptocurrency platform.
Here are the names of the suspects who were caught. Maybe someone here recognizes them or knows if they’re active on any forums.
NBI director Jaime Santiago said cases of computer-related fraud under Republic Act 10175, or the Cybercrime Prevention Act, were filed against Arnel Dayrit, Reniel Pabalan, Sharlene Agustin, Amanda Eunice Turalde, Mark Jhondell Padua, Vanesa Agustin and Kay Ann Pabalan.
And it seems like their operation is quite big, considering the number of gadgets they’re using.
At least 85 desktop computers, 114 cell phones, various subscriber identity module (SIM) cards and documents, which contained e-mails, passwords and cryptocurrency wallet addresses were seized from the suspects.
Those type of scams are mentioned in the other article.
Telecom fraud
Random victims are contacted by a criminal claiming to be a friend, relative or someone in a position of authority and tricked into parting withsending money.
Business Email Compromise
Criminals hack into email systems to gain information about corporate payment systems, then deceive company employees into transferring money into their bank account.
Romance scams
Criminals develop a “relationship” with victims through social media with the ultimate goal of obtaining money.
Investment/Boiler room fraud
Victims are pressured into investing in fraudulent or worthless shares.
Sextortion
Victims (both men and women) are coerced or tricked into sharing explicit images or videos which are subsequently used for blackmail.
social engineering scams and other scams.https://www.philstar.com/nation/2024/09/29/2388678/7-nabbed-cryptocurrency-fraud-pampanga
