An Arab woman wired roughly Dh1.1 million ($301K USD) to two strangers running a fake crypto trading firm in the UAE. When she sued in Dubai civil court, the case was dismissed. The mechanism that took her money was designed to make sure of that.
Vietnamese police arrested 24 suspects this week in a Cambodia-based romance scam operation. The man who said he loved her was working a phone bank in Poipet, and the script he read had been read to thousands of women before her.
Utah's Division of Securities issued an emergency cease-and-desist on June 1 against BG Wealth Sharing, a crypto pyramid that promised 60% monthly returns and ran on an AI-generated founder. The machine collapsed the same week. The fees to "release" the money kept coming.
David Merino Quintana was arrested in Dubai on June 1 as the alleged mastermind of FX Winning, a forex and crypto operation Spanish regulators had warned about since 2021. Around 15,000 investors across more than 30 countries are now waiting to see whether the extradition paperwork moves before the clock runs out.
The SEC charged Nathan Fuller of Cypress, Texas with running a $12.3M scheme that promised AI-powered crypto trading and, according to the complaint, delivered a Ponzi. The bot was the costume. The wire was the work.
A May 15 raid on a Parañaque house exposed a love-scam factory built on dating apps, deepfake faces, and a crypto pipe that sent foreign hearts and savings to a wallet they would never see again.