Four men have been arrested in Aichi Prefecture in Japan on charges of running a fraudulent cryptocurrency scheme that tricked 20,000 Japanese investors into an investment of 6 billion yen (about $ 55 million). Fraudsters convinced investors that they could profit from an artificial intelligence (AI) -based trading system.
As the Japanese newspaper Asahi Shimbun reported, the organizers of the fraudulent scam dubbed the Oz Project promised investors that an AI-based automated system would return 100% of their initial investment with a guaranteed return of two and a half times the cost of a four -month course.
One of the criminals conducted workshops and briefings for project participants and encouraged the creation and participation of a special group of investors in the popular Japanese messaging application LINE. This strategy prompted many participants to involve their friends and family in the scheme.
As the Japanese newspaper Asahi Shimbun reported, the organizers of the fraudulent scam dubbed the Oz Project promised investors that an AI-based automated system would return 100% of their initial investment with a guaranteed return of two and a half times the cost of a four -month course.
One of the criminals conducted workshops and briefings for project participants and encouraged the creation and participation of a special group of investors in the popular Japanese messaging application LINE. This strategy prompted many participants to involve their friends and family in the scheme.
