Police in Jakarta have dismantled a crypto romance scam syndicate that targeted victims on dating apps and duped them using a fake crypto trading platform.
The Metro Gambir Police in Central Jakarta have arrested 20 suspects in connection with an elaborate crypto romance scam that targeted middle-class women, mostly professionals such as lawyers and doctors from the Philippines, Vietnam, and Thailand, according to local media.
The scammers approached victims using fake profiles on dating platforms like OkCupid, Bumble, and Tinder. The bad actors then feigned romantic interest to gain their trust before moving the conversations to WhatsApp, where they eventually pitched a dubious cryptocurrency trading platform dubbed Wish.
Rezeki R. Respati, Head of Metro Gambir Police in Central Jakarta, said the investment schemes promised returns of up to 25%, and victims were asked to deposit funds via the fraudulent platform.
According to the report, the scam has been active for over two months, and the total extent of losses incurred is yet to be determined as authorities continue their investigation. Investigators have seized financial records and other evidence related to the fraudulent crypto transactions.
Among those apprehended, three individuals were believed to be masterminds behind the scheme, while the rest played supporting roles in executing the fraud. Authorities are also searching for one suspect, AJ, believed to be a foreign national from China.
A separate report from the Jakarta Post suggested that the scam was part of a larger syndicate headed by Chinese nationals.
Crypto scams and ties to China
Crypto scams with alleged Chinese links have surged across multiple jurisdictions in the past year. Past investigations have uncovered massive human trafficking rings, forcing victims into becoming cyber slaves executing crypto scams for Chinese criminal networks.
Last year, a Chinese-run scam centre that operated crypto and romance scams was shut down by Philippine authorities. During a raid, authorities arrested 100 individuals involved.
Indian authorities shut down two major scams in 2024—the HPZ token scam, which led to the country’s Enforcement Directorate filing a charge sheet against 299 entities directly controlled by Chinese nationals, and the DataMeer trading platform, which defrauded locals of inr 10 million.
In November, Irish law enforcement seized $3.42 million worth of cryptocurrency, believed to be loot from pig butchering scams operated by a Chinese criminal gang.
On Nov. 12, Daren Li, a dual citizen of China and St. Kitts and Nevis pleaded guilty to playing a role in laundering $73 million in proceeds from crypto scams via shell companies in the U.S.
