Theory is not as impactful as real instances. Below are the real scam cases exposed in 2025, each hiding the common tactics of scammers and recording the painful experiences of victims. I hope these cases can help you remain vigilant at all times and avoid repeating mistakes.
Case 1: Xin Kang Jia Ponzi fund scheme explosion, 13 billion in funds evaporated, founder absconded overseas.
This is the most sensational fund scam in the crypto world in 2025, involving an amount as high as 13 billion yuan and affecting 2 million investors. The scammers used the guise of 'DGCX Dubai Gold and Commodity Exchange China Branch', falsely claiming to invest in overseas gold and crude oil through the platform, promising a high daily return rate of 1%, and even setting up a nine-level pyramid structure with titles like 'Commander, Colonel, and Division Chief', using the temptation of 'rewarding 10-150 USDT for directly inviting one person' to expand their network of recruits.
Investor Huang Zheng from Wuhan is one of the victims. At the end of May 2025, he was attracted by a new recruitment studio at the entrance of his community, investing more than 30,000 yuan to participate. The platform stipulated that funds could not be withdrawn within a month. However, on June 25, the platform suddenly could not process withdrawals, and the next day the system crashed. The scammers not only did not run away but also devised a scheme to 'harvest the last wave': claiming that 'the company’s account was frozen due to tax evasion and required a 10% recharge of USDT based on the holding amount to unlock withdrawals,' and promised a daily return of 1% after paying the tax, allowing withdrawals only after accumulating 100 USDT but deducting a 50% handling fee.
Even so, many investors still add funds with a stroke of luck. Until the end of June, platform founder Huang Xin arrogantly declared in the group chat, 'I am already abroad; your wealth does not match your IQ; I just took away wealth that does not belong to you,' officially announcing the end of the scam. More ironically, as early as October 2024, regulatory authorities in Sichuan, Guangdong, Jiangxi, Hunan, and other places had issued risk alerts, and the company's operating entity had long been listed as abnormal due to 'inability to contact,' and even applied for cancellation before the explosion.
Case 2: Hong Kong AI 'pig-butchering' gang captured, involving Hong Kong Premier League players, 34 million Hong Kong dollars defrauded.
In early 2025, the Hong Kong police dismantled a crypto 'pig-butchering' group using AI deep forgery technology, with an amount exceeding 34 million Hong Kong dollars involved, and 31 suspects arrested, among whom was even a player from the Hong Kong Premier League and some students. This cross-border fraud group operated for over a year, defrauding areas such as Singapore, Malaysia, and Taiwan, with a tactic that can be considered a 'textbook for emotional scams.'
Scammers first create the persona of 'rich and handsome' or 'wealthy and beautiful' through internal training. Their scripts explicitly instruct members to disguise themselves as elites who 'love learning Japanese, play golf, enjoy fine wine, and understand investments,' attracting victims on dating platforms. After developing a romantic relationship with the victim, they use 'high-interest returns' as bait to induce them to invest in specified fraudulent virtual currency platforms. To make the scam more convincing, they also use AI to produce fake photos and videos, showcasing false investment performance.
Coincidentally, in July of the same year, the police in Zhuzhou, Hunan, also dismantled a similar scam den. Three criminal suspects packaged one of them to look like 'a single beauty living abroad and a senior player in the crypto world', luring men over 26 on social platforms like Tantan International and Twitter for dating. After establishing a romantic relationship, they used 'good mining mechanisms and airdrop rewards' as a pretext to entice victims to click links containing Trojan viruses, thus stealing USDT from their Trust wallets. More than 30 mobile phones, over 10 computers, and more than 30 overseas SIM cards were seized on-site, indicating the scale of the scam.
Case 3: 13-year-old boy scammed out of 140,000 virtual currency by a game friend’s 'familiar setup.'
Crypto scams do not discriminate by age, with even minors becoming targets. The 'familiar setup' tactic is the hardest to guard against. In 2025, there was a typical case: 13-year-old Xiaoyu (pseudonym) met a 'friend' in a game. The other party was very warm to him, often teaming up to play games and sharing daily life, quickly gaining Xiaoyu's trust.
After getting familiar, the other party revealed that they were 'playing with virtual currency to earn pocket money,' even sending screenshots of their 'profit records' to Xiaoyu, saying 'as long as you follow my operations, you can easily make money.' Xiaoyu was tempted and, under the other party's guidance, secretly bound an account using their parents' phone, transferring 140,000 yuan worth of virtual currency to the 'secure wallet' provided by the other party. However, after the transfer was completed, the other party not only stopped the gaming interaction but also directly blocked all of Xiaoyu's contact methods. It was at this moment that Xiaoyu realized he had been scammed.
The core of these scams is to use 'trust' to lower vigilance. Whether it’s a gaming friend, colleague, or a 'reliable project' introduced by relatives, once it involves virtual currency investment, it may be a carefully designed trap. Just like the previously mentioned OTC over-the-counter trading scam, many victims lost everything because they believed the 'familiar' promises of 'lower exchange rates,' trading privately outside of official platforms, ultimately ending up with 'empty pockets.'
Case 4: Fraudulent 'cloud mining' project scams over 200 people using PS mining field photos to fabricate trust.
'Cloud mining' projects, where 'you can make money just by lying down without monitoring', are a 'nightmare' for many newcomers. Beijing once cracked a related scam where scammers used photos of mining fields edited with Photoshop and fake technical white papers to package a 'high-yield cloud mining project,' claiming 'invest 10,000, receive 2,000 monthly dividends, and double your investment in a year,' defrauding over 200 people in a short time, with an amount exceeding 200 million yuan involved.
Victim Mr. Li recalls that at that time, the scammers frequently posted 'real mining field photos' and 'screenshots of profits arriving' in the community, along with many 'plants' in the group sharing their 'money-making experiences', saying 'they had already changed cars thanks to this project.' With a trial-and-error mentality, Mr. Li first invested 5,000 yuan and indeed received a 'dividend' of 100 yuan. This made him completely let down his guard, and he gradually added another 200,000 yuan. However, when he wanted to withdraw, he found that the platform app could not be logged into, and customer service had also disappeared without a trace.
After investigation, the police found that the so-called 'mining fields' did not exist at all, and all photos were computer-generated. The 'dividends' were merely a Ponzi scheme paid with the money of new investors to old investors. The deceptive nature of such high-tech concept scams is extremely strong, with scammers often using novel banners like 'metaverse' and 'blockchain cattle breeding' to mislead investors into believing it is a 'hot project', when in reality, it is all just 'drawing cakes to gather money.'
Four, emergency response steps after being scammed (four key steps to increase the chance of recovering funds)
Retain all evidence: including chat records, transfer screenshots, platform app installation packages, web links, and the other party's account information (WeChat, QQ, phone number), and do not delete any content;
Immediately freeze funds: if funds are still in the bank card, immediately contact the bank to freeze the account and request a stop payment; if already transferred to a virtual currency wallet, immediately transfer the remaining assets to a secure cold wallet;
Report the case promptly: take evidence to the local police station to report the case, or submit clues through the 'National Anti-Fraud Center APP,' explaining the scam process, the amount involved, and the other party's information;
Cooperate with the investigation: when the police investigate, provide all evidence and clues to assist the police in tracking the flow of funds (virtual currency funds can be tracked using on-chain tools).
Conclusion: Although there are many scams and tricks in the crypto world, the core of them all relies on human greed and the psychology of luck. For ordinary people to survive in the crypto space, they must first abandon the illusion of 'getting rich overnight' and remember that 'stability is paramount.' Keep fraud prevention knowledge in mind. This manual is recommended for collection; when in doubt about a project, refer to it for review and thorough investigation. Follow me @链上标哥 to avoid getting lost! There will be updates on the latest scam cases and tips for avoiding pitfalls, helping you navigate the crypto world with fewer detours and protect your principal!
