Japan police warn of social media investment scams

Police in Japan are warning against social media-based investment scams following recent fraudulent activities. In Aomori Prefecture, a man in his 40s lost approximately 1 million yen worth of cryptocurrency.

The victim reportedly met a woman on a matching app, after which they moved their conversation to LINE. The individual was persuaded to invest in a fraudulent application that mimicked a legitimate overseas cryptocurrency exchange. After seeing apparent profits on the site, the victim transferred additional funds, only to find he could not withdraw the money and was instructed to invest even more.

Authorities advise the public to remain skeptical of investment advertisements on social media, even those featuring celebrities. They warn against believing claims of guaranteed profits or rapid stock price increases and urge individuals to consult family or the police rather than making financial decisions alone.