There has been a spike in South Korean crypto scams that focus on younger girls on social media platforms, a brand new examine has revealed.
Per iNews24 and Hanguk Kyungjae, the examine revealed that 71% of “romance scam victims” ensnared through social media in 2022 had been girls.
The overwhelming majority of those girls had been “aged 39 or below.”
Almost 63% of those “romance scams” made use of crypto, pretend cash, pretend international change transfers, or bogus token buying and selling platforms.
The knowledge was compiled by a postgraduate pupil on the elite Korea University and used knowledge from latest police stories.
Most scammers seem to utilize Instagram, the examine confirmed.
Many scammers are additionally making use of relationship apps like WIPPY (14%) and Tinder (7%).
The examine discovered that social media-based scammers are at the moment making off with nearly half 1,000,000 USD value of fiat and crypto a month.
But this determine doesn’t consider scams that go unreported.
Crypto Scams Target Young Korean Women – The Scammers’ Methods
The examine examined knowledge from 280 instances reported to police businesses in the primary half of 2022.
But police seem involved that crypto-related scams are on the rise in South Korea.
They have responded by forming particular crypto scam-fighting departments and investing in crypto-specific coaching for officers.
Typical “romance scam” crypto fraud strategies embrace “asking victims to help” change cash or fiat utilizing bogus platforms.
Other fraudsters try to dupe younger, predominately feminine victims by convincing them that they will earn simple cash by investing in bogus altcoins.
Some try to idiot victims by claiming they want cash to pay for medical prices.
Others declare to be marooned abroad and in pressing want of funds.
Earlier this yr, the regulation expertise developer and safety supplier Uppsala Security claimed that South Korean scammers are actually making an attempt to lure the customers of relationship apps onto pretend crypto mining platforms.