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A 36-year-old man in Liaoning, China, reported being forced to pay a “30% tax” to withdraw funds from an investment account after being lured into a cryptocurrency scheme online, according to China News.
The victim met a stranger on social media and, after building trust, was introduced to a cryptocurrency investment platform that promised high, stable returns. Believing the information, he registered and deposited funds. Early trades showed profits, and his account balance increased.
After making multiple deposits, the balance rose to more than 180,000 CNY (about 680 million VND). When he attempted to withdraw, the platform rejected the request.
After the withdrawal was refused, the platform’s “customer service” contacted him and demanded payment of 30% of the total account balance as tax before any withdrawal could be processed. In later exchanges, the platform continued to increase the amount required, citing additional taxes and fees.
The platform also required transfers from outside the account and did not allow deductions directly from the displayed balance. It warned that if the payments were not completed within a deadline, the account would be frozen for “tax evasion.”
As the victim questioned the logic of the tax demand and the inability to deduct from his balance, the operator persisted. The scammer reportedly sent a small upfront amount to build trust, then pushed for payment of the remaining sum quickly.
When the victim hesitated, the operator’s tone shifted to impatience and threats. He ultimately refused to pay the “30% tax” and reported the case to the police.
Authorities said the case reflects a common tactic used by high-tech crime rings. Perpetrators build contact on social media, lure victims into fake investment platforms, display “phantom” profits to encourage further deposits, and then impose arbitrary charges such as taxes and withdrawal fees.
Police noted that the account balance is illusory: if victims continue transferring money, criminals can steal the funds and then disappear.
Chinese police advised citizens to be cautious about high-profit investment offers on social media. They said any demand to “pay money to withdraw” is a sign of fraud, and that people should stop trading and report suspicious activity to authorities.
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