70-year-old man in Shanghai narrowly avoids losing 100,000 yuan to Bitcoin investment mentor scam

Odaily reported that an elderly man in his 70s from Chongming, Shanghai, China, recently fell for an online "investment mentor" promoting the high returns of Bitcoin investment. He went to the bank twice in succession to withdraw 100,000 yuan in cash for a transfer, but was successfully dissuaded through a joint effort by police and bank staff. Police warn that fraudulent schemes like "Bitcoin investment" and "retirement wealth management" targeting the elderly are on the rise. Scammers often pose as "investment gurus" on short-video platforms, using fake profit screenshots and phrases like "low investment, high returns, guaranteed profit" to lure victims into transferring money. Large financial transactions should first be verified with family members and promptly reported to the police.