Undercover Sex Scandal Shakes Chinese BTC Investors: 6 BTC Taken in Sextortion Scam Honeytrap

A distressing case involving BTC theft via a scam has shaken the Chinese BTC community. In 2024, a software developer from Chengdu fell victim to a criminal group masquerading as a female trader, losing 6 Bitcoin. The scammers employed a honeypot scheme, enticing the victim through an X profile with promises of explicit encounters, only to extort him using false threats in a crypto sextortion scheme.

The events transpired after several months of online interaction. The victim was enticed to a luxury hotel, where the gang manipulated him into transferring 6 BTC by jeopardizing his reputation. Law enforcement is currently investigating the matter and alerting crypto asset users about similar scams aimed at asset holders. The case attracted media attention due to its resemblance to a popular social media craze.

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Bitcoin Scam: The Gang, The Victim, and The Stolen BTC

Just before the report, a Mandarin-speaking X user, BTCconger, previously known as LisaaBuilder, shared an enticing proposition. She announced she would “spend the night” with anyone possessing 0.1 Bitcoin and encouraged followers to send in their crypto wallet addresses.

Following this, she intensified her antics with provocative photos and videos, including a hotel selfie holding a condom and a clip of her perusing the Bitcoin white paper alongside three men. She also mentioned traveling to Bangkok for meetups, despite one post indicating she may not have shown up.

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However, one man became a victim after he agreed to meet at a high-end hotel in Chengdu, not with BTCconger, but with “Bitcoin Cong’er.” The criminals allegedly used fake evidence to threaten the victim’s reputation, ultimately extorting a 6 Bitcoin transfer via a crypto honeypot scheme. A sexual pig-butchering tactic.

The Sina Finance report connected BTCconger’s tweet to the Chengdu incident through a group of scammers. It detailed how the gang operated under the alias “Bitcoin Cong’er,” which resembled BTCconger’s identity. The similarity in utilizing a female crypto holder persona for deception put the real BTCconger under a cloud of suspicion, despite the absence of direct evidence linking her to the crime.

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In response, BTCconger addressed the accusations during a live stream with content creator Robert Lee. From Shenzhen, she denied any involvement, claiming that the Chengdu extortion incident occurred before she rebranded her account to BTCconger. She asserted that if she were guilty, authorities would have detained her and insisted on having notarized evidence to clear her name in an official report.

The Aftermath: Not Just About the Stolen Bitcoin

Police are alerting investors about a rising trend of scams that hack the trust of crypto holders. The Chengdu case involved months of grooming preceding the face-to-face ambush, presenting a twist on standard online extortion tactics. Authorities recommend users verify identities and refrain from sharing sensitive information with unverified contacts.

BTCconger’s posts eventually garnered massive attention, reaching 2 million views. They highlighted the allure such tactics can possess, regardless of whether the intent is attention-seeking or deceitful. Some considered it clever marketing, while others viewed it as a dangerous approach concealing genuine risks.

Apart from the risk to his reputation, the 6 stolen BTC inflicted financial harm on the victim. This technique, prevalent in crypto sextortion, leverages personal shame to cloud rational judgment. The gang’s use of fabricated proof preys on victims psychologically.

Investigations are ongoing, but BTCconger’s denial relies on the timeline and her visibility. She maintains that her rebranding to BTCconger occurred recently, after the Chengdu event.

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This situation highlights vulnerabilities within the crypto industry, where anonymity and trust can be leveraged as weapons.

As investigators probe deeper, the distinction between viral stunts and illicit activities fades, leaving us in a state of uncertainty.

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