Overview
- The 56-year-old management consultant was groomed via a dating app, steered to a convincing but fake crypto platform, and lost €1.3 million after being told to pay bogus taxes and fees to release nonexistent profits.
- Investigators traced IP activity to Myanmar and describe a transnational setup that uses Chinese money‑laundering networks and German-based accomplices to vet profiles and polish messages.
- Munich police report cybercrime losses in their area have already surpassed 2024’s total and expect a double‑digit million‑euro figure for 2025, with very low chances of retrieving stolen funds.
- Targets are typically well‑educated, financially successful people in vulnerable situations who may move chats to messaging apps, take out loans to chase fake gains, and risk personal insolvency.
- Authorities warn of a second wave of deception in which fraudsters later pose as helpers claiming they can recover funds, demanding additional payments from the same victims.