A Los Angeles County man was defrauded of $740,000 by a Chinese woman on a dating app

In recent years, “pig butchering” scams have become increasingly prevalent, with con artists constantly updating their tactics. Despite intensified efforts from authorities to combat these frauds, many individuals continue to fall victim. A recent report by the Orange County Register uncovered the harrowing experience of a Los Angeles County resident who lost $740,000. Experts point out that residents of affluent cities have emerged as primary targets for these types of scams.

The report highlights that previous “pig butchering” schemes typically began with phishing messages, but now, various dating apps have become common hunting grounds. A software developer in Santa Monica shared that last year, he met a 32-year-old Chinese woman named “Jenny” on one such app. Within just a few months, she almost led him to financial ruin.

“Jenny claimed she moved from Shanghai to Boston four years ago and was working at her uncle’s venture capital firm,” the victim recounted. “She told me it was tough to make new friends in a foreign place and expressed a longing for companionship and stability.” Jenny frequently shared glimpses of her life, such as photos of her horseback riding or dancing playfully in a mask at a museum with friends. During one exchange, she “accidentally” sent a screenshot showing a bank balance exceeding $2 million. While the man felt skeptical, Jenny quickly explained that this was due to a rapid trading technique developed by her uncle’s company, which could yield at least 40% profit while minimizing risk. She claimed that she trusted him enough to share insider information.

Initially cautious, the man eventually grew to trust Jenny after spending time together, and he invested $1,000 to “test the waters.” Once he experienced high returns, his guard further lowered. Notably, when he mentioned his financial struggles, Jenny generously offered to lend him her savings and helped him deposit money into his investment account, completely dissolving his reservations.

Ultimately, his initial investment of $1,000 ballooned to a staggering total of $740,000.

Kathy Waters, the CEO of the California Anti-Romance Scam Organization, explained that the allure of “pig butchering” lies in its intoxicating nature. “Is there anything more beautiful than finding a loved one and potentially sharing a wealth of money for the rest of your life? This can make victims addicted to the feeling, preventing them from wanting it to end,” she noted.

Waters emphasized that many individuals often recognize the warning signs but are reluctant to accept that such scams could happen to them, especially when they find themselves in vulnerable positions. The losses from these romance scams extend beyond financial damage; victims frequently feel a profound sense of loss for what they perceive as a cherished relationship and often face intense shame due to societal stigma.

Experts also pointed out that in California, early “pig butchering” scams primarily targeted Chinese-speaking individuals and immigrants in cities like Irvine, Los Angeles, and San Francisco. However, these scams have now expanded to residents in affluent cities across the board. Criminal groups meticulously investigate personal information to select their “prey,” with targets sometimes identified simply by their zip codes. Furthermore, the geographical origins of these scams have extended from Southeast Asia to include regions in the Middle East and Africa.

According to a report released in September by the FBI, California suffered nearly $1.2 billion in losses due to cryptocurrency scams last year—the highest in the nation—followed by Texas and Florida, which reported losses that were nearly three times lower. In response to the surge in such scams, the California Department of Financial Protection and Innovation (DFPI) has launched a website to track victim stories, inviting those with information to report their experiences at (dfpi.ca.gov/crypto-scams/).

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