A 65-year-old man in Hyogo Prefecture, Japan, lost approximately ¥826 million in cryptocurrency after being defrauded by a suspect impersonating a police officer. The fraudster convinced the victim to convert his deposits and securities into crypto assets under the false pretext of verifying funds and clearing him of criminal suspicion.
The victim transferred the assets to a designated address in 10 separate transactions between September 7 and September 17. The scam was uncovered when the suspect demanded additional "bail money," prompting the man to consult a friend. Police are now investigating the case on suspicion of computer fraud.
Japanese Man Loses ¥826 Million in Crypto Assets to Fake Police Scam
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