Microsoft Teams used for cryptocurrency scams in China

A new fraudulent scheme in China is utilizing the Microsoft Teams business communication platform to conduct 'pig-butchering' cryptocurrency investment scams. Scammers leverage the perceived trustworthiness of the official Microsoft software to build rapport with victims, often through romantic or social connections, before introducing fake investment projects.

Victims have reported significant financial losses, with individual damages ranging from 1,500 to 300,000 USD. In one reported case, a victim named Zhao lost his entire savings, including funds borrowed from banks, after being promised profits exceeding traditional stock trading.