In Cebu, Philippines, a call center was uncovered that operated a cryptocurrency scam, defrauding victims of $800,000. The fraudsters offered fake investment products like Quantum AI and Bitcoin Code.
Methods Used by Crypto Scammers in Cebu
Scammers employed a sophisticated strategy, including psychological manipulation and fake investment pitches. They operated with a 14-page script that sounded professional and convincing. Agents pressured victims by promising high returns while claiming to be local residents from countries like South Africa and Nigeria.
How YouTuber Mrwn Exposed the Scam
YouTuber Mrwn started his investigation after a friend received a suspicious call promoting a fake investment. Over the year, he gained access to the scammers' internal systems, including CCTV and individual computers. His efforts resulted in substantial evidence, including recorded scam calls and financial documents.
Response of the Philippine Government to the Scam
After Mrwn's video went viral, some Philippine government officials confirmed that an official investigation would begin. Renato Paraiso, Assistant Secretary for Information and Communications, stated that the investigation would provide valuable leads to identify criminals.
The scam system in Cebu illustrates how low labor costs and strong English proficiency make the Philippines an attractive location for fraudsters. Mrwn's work highlights the importance of action against such schemes.
