Authorities in Shanghai said a man in his 70s twice tried to withdraw 100,000 yuan after an online “investment mentor” lured him into a fraudulent Bitcoin scheme targeting seniors.
Shanghai police and a bank stopped a man in his 70s from transferring 100,000 yuan after he was misled by an online "investment mentor" into a fake Bitcoin investment scheme. According to the information provided, he twice attempted to withdraw the cash in Chongming, Shanghai, before authorities intervened. Police warned that fake crypto and pension investment scams are rising and increasingly target elderly people.