The Tinder forex scam is a new, yet quite sophisticated method some groups of criminals (mainly from China) use to lure men into investing in the forex market in order to get his money. It’s a perfect example of a so-called ‘honey trap’: An attractive woman using her beauty and sex-appeal to entice a man into doing something very stupid. But what is this scam exactly and how does it work?
What is the Tinder Forex Scam?
As of lately, more and more Tinder profiles have popped up in Thailand that seem to belong to beautiful, young, yet affluent Chinese girls. As soon as they match with men, they start a casual conversation about work, career, business and personal topics. Nothing serious. It usually starts with a very shallow conversation which gradually turns into flirting. They appeal to men’s ego by flattering and complimenting about certain achievements of that particular guy. Often, they claim to be a finance analyst or some business owner.
After a while, these girls begin to show more and more of their wealth. Sending photos of expensive cars, condos, hotels, fancy dinners and luxury brands, while acting like it’s totally normal and nothing special. All this glamour and glitter makes him very curious, envious and more interested in her. After all, it’s what many men desire: Attractive women and an opportunity to become rich. Her intention is to make him ask himself:
“She’s hot and seems to be smart and successful. How does she make this money and how can I do the same? “
This is exactly where she wants to have him. Usually these girls tell their victim that they have an uncle who works at Wall Street and leaks some ‘insider info’ to her. She’ll show him screenshots of her successful Forex trades on meta trader.
As soon as she manages to raise enough interest and enthusiasm in him, she’ll offer him to teach forex trading and share her forex positions with him. All this because he is so nice and handsome. As a matter of fact, this is the perfect constellation to make men lose common sense and become greedy: a hot, smart and successful girl who is interested in him and the prospect of earning lots of money.
How does the Tinder Forex Scam work?
The Tinder scam is a very sophisticated approach to steal money from people. The girls that are part of this scam (or let’s say the person hiding behind that Tinder profile) play the long game when they know the potential victim a suitable prey. I.e., he might have some savings and might be easier to manipulate. Over weeks, she will have a normal flirty conversation with him. Make him like her and trust her while slowly introducing him to her Forex earnings.
Make him open a demo account and get familiar with it
When he shows enough interest in joining Forex trading with her, she’ll offer to practice trading with him on a demo account which is quite common on Meta Trader.
Info: Demo trading accounts allow people to invest virtual money in an environment with real-time prices of currencies and commodities for practice purposes.
Here is the crucial point: She’ll tell him that he needs to use a certain broker (which is fake) on meta trader to make it work. Often, we heard and read about a Chinese broker with the name “Valley Tech Spec” in this context. These brokers are part of the scam. They have a fake Forex server running that they can manipulate as they like. Hence, they can 'predict' the course of certain prices by accordingly adjusting the price on the server.
Image: Scammer girl wants victim to open an account at a fake forex broker
Next, after he has set up the demo account, she will forward some of the ‘Forex signals’ from her uncle to him. Basically, she will tell him when exactly to open and close a position. And surprise, surprise, he just made a few thousand virtual dollars within a few minutes.
No doubt, this leaves quite an impression in him. The prospect of possible millions make many people ignore all the red flags. He will be tempted to invest real money now. This is the point where we separate the wheat from the chaff. Under normal circumstances, people would question the fact that she insists on her broker of choice. Also, why would she share this valuable information with him? On top of that, she’s super hot and rich already. When something seems to be too good to be true, it often is.
However, under the given circumstances, i.e. a hot girl is interested in me, she offers to help me and give me valuable information that could make me rich, some of us are likely to ignore all red flags and give it a try. After all, we don’t want to miss an opportunity to become rich and make her shy away by asking too many questions, do we?
The actual scam begins
This is where the actual forex scam begins. He will open a real account on that specific broker she mentioned and transfer a decent amount of money. She will continue to share Forex signals from her ‘uncle’ which will be accurate in such that he will significantly increase the money in his trade account. So far so good.
This will continue for a while. Fueled by his success in all his previous trades, greed will overwhelm and he will continuously lose his hesitation from investing larger sums. Also, she will carefully pressure him to deposit larger sums, so he can keep up with her.
However, what he doesn’t know yet is that he already lost all the money he transferred to this broker. His earnings are just virtual. When he tries to withdraw his funds from the broker, either his account will be closed, the funds will suddenly be zero by some ‘technical error’ or the withdrawal will be pending forever. But the money will never reach him.
Make him deposit more money
At this point the girl will try squeeze him one last time. She will try to convince him to invest again to make up for the lost funds or she’ll simply disappear.
In other words, she is part of an extremely sophisticated scam that runs its own forex broker on Meta Trader! The website, the prices, the account – everything is fake. They manipulate their own server, so that it shows the prices her ‘uncle’ has predicted. When a victim deposits funds to “Valley Tech Spec” for instance, the amount will be shown on his trade account. But the money actually goes through some shadow companies into some criminals' pockets.
How can I notice that “She” is not real?
Things that most Tinder Forex scam profiles have in common:
- profile with few photos and little personal information
- distance is not shown on Tinder
- very beautiful Chinese girl either from Hong Kong, Shanghai, Macau or Singapore
- quickly goes over to ask for his WhatsApp or Line Id
- claims to have a shop or similar business or is a finance analyst
- sends photos showing her wealth and success
- ignores questions or gives answers not related to the question
- becomes defensive if you start digging too much
- acts like her wealth is totally normal
- some of her answers seem to be directly translated from Chinese
Typical signs that she is part of a forex scam are:
- has an uncle or mentor who provides insider information on Forex prices
- insists that you use a broker of her choice
- not responsive to casual questions but responds quickly to Forex related questions
- gradually steers the conversation towards Forex related topics
- shows how much she earns and reinvests to make you get conditioned to deal with large amounts of money, making you take higher risks
Can I Get My Money Back?
There are several reports of people who lost tens thousands of dollars costing them their fortune due to this scam. It is hard to get the money back from an account that is neither in Europe nor in the US. As of now, we haven’t heard of getting his money back.
On this forum there are several people reporting to be victim of this fraud.
Many tried to contact their local police to get help, but so far without any success. Also, banks can’t help much in this case. However, some of the victims hired lawyers who are specialized in such cases. It will be interesting to see if Chinese authorities will cooperate to find the people behind this scam and help the victims to get their money back.
The Tinder Forex scam: A group of criminals disguised as pretty Chinese girls on Tinder are luring men into Forex trading. They claim to have a reliable source that provides forex signals that makes them earn large amounts of money. If "she" gets him to join trading with her, she will make sure he will deposit his money at a broker of her choice. However, this broker is fake and all money he deposits is gone.
More and more people fell victims to this scam. Some people even lost all their life savings. With this article we want to make all people out there aware of this scam and hope that those behind this scam will be brought to justice.