Macau Residents Fall To A $2.5 Million USD Crypto Scam

Cryptocurrency scams are, unfortunately, not uncommon. However, it’s rare that they actually people lose millions of dollars instead of hundreds like it was the case in this recent scam made in Macau. According to local media sources, over 70 Macau residents allege that they are victims of a cryptocurrency scam which made the involved lose $2.55 Million USD.

The reports state that the victims, all residents of Macau, have recently held a press conference to affirm that a Hong Kong-based mining and e-sports company, Forger Esports, has vanished after taking their money. Because of this, the victims of the crime have accused the company of stealing their money.

The Scam Case

Forget Esports has recently sponsored a seminar in Macau in which the members of the company told the local investors that they had a mining center in Hong Kong called Forger CCMS supported by 40 and 60 mining operations. According to the claims, the mining center would be able to make about $25,000 USD monthly worth of crypto.

The company was able to convince the locals to invest in a project for the expansion of the mining facilities and were promised a fixed return. According to the scammed investors, Dennis Lau, founder of the company, has told them that anyone could mine if they had the necessary technology. Because of this, he was looking for funds for this project.

After taking the money, Lau disappeared and was not seen again. He did not pay the fixed return from July 1 to 7 and nobody was able to contact him afterward.

A Group United To Pursue Their Rights

A group has decided to call the police after Lau disappeared. The leader of the party was Alexandre dos Santos Rosario, the president of Grow uP eSports, which has invested a large sum of money into Forger Esports. At the time of this writing, 14 of the victims had already talked to the police.

The police reports state that the company signed a total of 142 contracts and that the victims were not only looking for their money back but also for their promised returns on investment.

Scams related to cryptocurrencies in China are not uncommon even after the government has issued bans on many projects. This is just the latest of a series of scams that are happening during the rise in popularity of this new technology.

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