Personal Finance
I Was A Target Of An WeChat Investment Scam, But Made Some Money Off It!
By Mr And Mrs Budget  •  November 19, 2019
Scams involving money have been widely reported, and one such investment scam works like this (write up taken from Seedly): upon gaining the trust of their victims, the scammers would encourage their victims to buy specific shares on the Hong Kong Stock Exchange, promising them guaranteed profits. Should the scammers convince enough victims to buy the mentioned shares, the price of the share increases. The scammers, then, sell their portion of shares and disappear with their profits. This sell-off lead to a dip in share price, higher than the price of which the victim invested. While Mr Budget counts himself as a relatively smart person, I never thought I will be a target of one such scam. So earlier 2 weeks ago, Mr Budget received a friend request on WeChat from a female contact. Before this, Mr Budget has a friend who told me that he...
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By Mr And Mrs Budget
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