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A 70-year-old man in Shanghai, China, narrowly escaped being scammed out of 100,000 yuan by a “Bitcoin investment mentor.”

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ME News: On May 20 (UTC+8), according to Xinmin Evening News, a man in his 70s from Chongming, Shanghai, China recently fell for online "investment mentors" promoting high returns from Bitcoin investments. He went to the bank twice to withdraw 100k yuan in cash for a transfer, but was successfully stopped through a joint effort by police and bank staff. Police remind that frauds targeting the elderly, such as "Bitcoin investment" and "retirement wealth management," are on the rise. Fraudsters often pose as "investment experts" on short-video platforms, using fake profit screenshots and phrases like "low investment, high returns, guaranteed profits" to lure victims into transferring funds. For any large-sum financial transactions, one should first verify with family members and promptly report to the police. (Source: BlockBeats)
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