A Bloomberg investigative reporter wrote a new book titled Number Go Up: Inside Crypto’s Wild Rise and Staggering Fall. This eye-opening piece of work sheds light on the dark underbelly of the cryptocurrency world. This week, Bloomberg published an excerpt that reveals a shocking encounter between the reporter and a woman named Vicky Ho, who contacted the reporter with a flirtatious text message. Little did the reporter know that this would be the beginning of a deep dive into the world of crypto scams.

Vicky Ho, seemingly infatuated with the reporter, unveiled her unique love language: Bitcoin price data. She claimed to possess the ability to predict market fluctuations, boasting impressive gains of 20% or more. Sharing screenshots of her trades, Vicky revealed substantial profits, including $18,600, $4,320, and $3,600 from different trades alone. Astonishingly, Vicky engaged in lengthy conversations without requesting any money from the reporter. It became clear that the reporter was the intended target, but instead, the reporter sought to con Vicky back.

As their interactions progressed, Vicky introduced the reporter to an app called ZBXS, which appeared similar to other crypto-exchange apps. She provided instructions that involved purchasing one cryptocurrency using another app and transferring the crypto to ZBXS’s deposit address on the blockchain. The process required the reporter to navigate a string of 42 characters consisting of letters and numbers.

However, Vicky’s deceitful intentions were part of a much larger scam affecting people worldwide. The reporter discovered numerous victims who had lost staggering sums of money to this con. A project finance lawyer from Boston, despite battling terminal cancer, fell victim to the scam, losing $2.5 million. Similarly, a divorced mother of three from St. Louis was defrauded of $5 million. Surprisingly, all victims had been advised to use Tether, the same cryptocurrency that Vicky had suggested to the reporter. CipherBlade, a crypto-tracing firm, estimated the total loss to be at least $10 billion due to these crypto romance scams.

Yet, the monetary loss was not the most appalling aspect of this fraud. The reporter unraveled a startling truth – the person masquerading as Vicky was most likely a victim herself, falling prey to human trafficking. These “pig-butchering” operations were orchestrated by Chinese gangsters based in Cambodia or Myanmar. They enticed young individuals from Southeast Asia under the guise of promising prosperous employment opportunities in customer service or online gambling. However, upon arrival, these unsuspecting individuals would be forcibly coerced into participating in criminal activities. Thousands of innocent victims have been ensnared in this manner. Office buildings are filled with captive workers sending spam messages relentlessly, living under constant threat of torture or death.

With the aid of translators, the reporter engaged in video conversations with individuals who managed to escape the clutches of these human trafficking rings.

Chinatown, located in southwestern Cambodia, alone held a staggering number of approximately 6,000 captive workers, similar to “Vicky Ho.” Shockingly, accounts from interviewed workers exposed the horrifying reality of witnessing murders within these compounds. One worker specifically identified the use of Tether as a preferred cryptocurrency due to its perceived safety and untraceability, as they lived in constant fear of being tracked.

As the reporter delved deeper into this distressing story, it became evident that the existence of cryptocurrency played a crucial role in facilitating these modern-day slave complexes. However, hope lies in technology’s ability to combat and alleviate these issues.

AI legalese decoder, an advanced tool utilizing artificial intelligence and natural language processing, can greatly assist in the fight against cryptocurrency-related crimes. This innovative solution enables authorities to decode complex legal jargon commonly found in crypto transactions and contracts. By deciphering intricate terms and conditions, AI legalese decoder can uncover hidden traps, identify potential scams, and enhance the ability to track and trace illicit activities.

With the aid of AI legalese decoder, law enforcement agencies can better equip themselves in the battle against crypto romance scams and human trafficking linked to cryptocurrency. By staying one step ahead of organized criminal networks, AI legalese decoder can help protect vulnerable individuals who would otherwise fall victim to such atrocities.