Chinese crypto noobs are being tricked into laundering funds for ‘rewards’ — and pig butchering scammers are kidnapping kids: Asia Express.
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A new type of cryptocurrency scam is rising in China, with locals losing money to a scheme known as point running, according to a warning posted by the Public Security Bureau on Sept. 10.
The term “point running” refers to the practice of moving crypto through various accounts. Often new to digital assets, victims are told that by transferring these cryptocurrencies, they are processing transactions and earning rewards or commissions.
