Do not treasure goods that are hard to obtain, so the people will not become thieves.
不貴難得之貨, 使民不為盜
Lao Tzu, Tao Te Ching, Chapter 3 第三章
I'm a man who believes that words wield great power.
After all, it's words that power scams, the very subject of this story — or is it something else deeper than words?
The psyche and its shadowy motives, perhaps.
This story will look at both sides: the words and their power, along with the underbelly of the human mind that drives people to become thieves spoken of by Lao Tzu.
I already know that words have power — they’ve built True Crime Thailand from the ground up. I write between 3,000 and 10,000 words per day, as I spill ink across my various publishing pursuits.
True Crime Thailand is the main arena for my wordplay, but I also write novels, business newsletters, and sink ungodly amounts of time into personal chats.
While writing the story about this bitcoin scam, which has been percolating for about a month, I got curious one day and wanted to know the origin of the word scam itself.
I might not have driven home the point above that I'm a fan of words. So I'll do it here and now.
I subscribe to the Oxford English Dictionary, the hoary tome that records the usage and etymology of over 600,000 words in our beloved English language.
You might be surprised I use such a resource as I am, after all, a Yank.
But no matter — the OED looks at English as a living language, one that has spread itself out across time and space, and records the evolution of words from from London to the Scotland's heathers, from the rough and eternal poetry of Beowulf to the carny barks in mid-20th century America.
And that's exactly where I found "scam".
Its first recorded usage in a 1963 piece from Time magazine, "He worked as a carny huckster... 'It was a full scam.'"
It surprised me that the word could only be traced back to 1963. It was probably used before then, of course, and some readers might find this little fact unbelievable.
I did, at least. It went against my assumptions about the word, as I thought it'd have origins as far back as Shakespeare.
But keeping assumptions is the last thing I want to do when writing a story about scams.
In writing this story, I trained myself to question every bit of data that I came across. Whether that was a word's origin or my own thoughts about how scams work — and more importantly, my feelings about the victim and the choices they make.
Another resource that I use often, the Online Etymology Dictionary, suggests that the word scam could be tied to the word scamp. Makes enough sense.
And so I looked up "scamp" in the OED, and found a history that goes back over 200 years.
The matter became more muddled the more I dug.
"Ye scamps, ye pads, ye divers," the line says from Choice of Harlequin by Messink, dated 1782. If you can make sense of that, please do and email me — the line beats me.
The word starts there in a late 18th century play. Who would’ve thought, huh?
As you might have gathered by now, when I start to dig into details, I don't leave any stone unturned.
I look for clues everywhere.
I scour the internet, historical records, old books, PDFs only found on the 17th page of a Google search, archived websites on the Wayback Machine, court cases and legal documents decades old.
Some of the paths I take just steal my time, shiny new clues keep me stumbling down unmarked paths as my hunches act as scamps, highway robbers, that steal from me the only real asset I own: time.
Don’t be shocked to learn that this work, this writing, these investigations don't fill my coffers — I don't get rich from these true crime stories.
The rewards are moral, and the well-wishes I get along the way from my readers are the victuals ("food" for those too lazy to Google that word) that keep me trudging down the dark paths that snake through the vast continent of crime that I inhabit.
But I digress.
This story isn't about me or my obsession about words.
It's about a scam.
A long-con romance scam.
A bitcoin scam.
A very effective scam that is symbolic for the time we live in.
A time of loneliness, despair, financial ruin for many, a time of great hope and FOMO ("fear of missing out") of a potential crypto-currency revolution fueled by speculation and adoption of bitcoin.
The scam worked on at least a dozen people that I can account for. And the scam's still running as you read this now — they've rebranded, but they haven't stopped.
The scammer was able to bilk hundreds of thousands of dollars from their victims so far.
There are multiple people involved with the scam. Some chat up the mark, getting them to transfer money and bitcoin. There are others who serve as customer service reps for a fake and fraudulent trading platform. This makes it seem like there's an actual company behind the operation. It gives the scam an air of legitimacy and authority.
The scammers went so far as developing a custom app that looks like a bitcoin trading platform.
And when victims have posted on forums and YouTube about the scam, an army of sock puppet accounts rises up from the shadows to discredit the victim's claims.
I'm writing this story because this scam is currently operating and still finding victims that are losing hard earned money.
It's devastated some, pushing marks to the brink of homelessness and despair.
It's my goal to expose this scam for what it is in the hope that at least one person who reads this is saved the trouble, headache, and shame of falling for it.
This is the full anatomy of Jenny’s long con.
Note: If you’re reading this story and you haven’t subscribed to this newsletter, please do below. It’s free. There’s no spam. And Big Tech can’t censor me here.
Second note: if you received this as an email newsletter, you have to go to the actual Substack website to read the full version as it’s too long for email. Just FYI. You can find the link at the bottom of the email.
Gold and jade fill up the room, no one is able to protect them.
金玉滿堂, 莫之能守
Lao Tzu, Tao Te Ching, Chapter 9 第九章
The first time I heard of bitcoin was around 2012.
It was on a phone call with my father, who listened to a rogue economic commentator Max Keiser.
Dad always listened to Max Keiser because he was a silverbug.
But along with the chatter that silver would one day be $1,000 an ounce, Max Keiser also promoted bitcoin as a new digital currency that would challenge the fiat based banking system, inflation, and loss of purchasing power of the dollar, along with the ills that come along with it.
Max Keiser talked up silver so much that he even released a special edition silver coin that challenged the banker domination over global finance.
I still have a few of those coins.
He wasn't exactly right about the potential price boom and bull run of silver. But he was about bitcoin. And bitcoin's his main focus now, the main shtick on his podcast The Orange Pill.
Bitcoin in 2012 traded between $6 and $13 a coin. As of the date of this article's publication, bitcoin is now priced at $47,856.
That's a gain of 3,681x. That means for every $1 you held in bitcoin at the end of 2012, it would be worth $3,681 today.
My dad did buy a lot of bitcoin at that time. Of course, the way his luck would always have it, he bought on Mt. Gox — an exchange that folded after 850,000 bitcoins it held were pilfered.
The bitcoins that Mt. Gox mismanaged and let slip away into the wallets of thieves would be worth $40.6 billion today.
I don't know how many bitcoins my dad bought at that time. It was at least a few thousand dollars worth. Let's be conservative and say he bought 200 bitcoins for a total of $2,600 at 2012's rate.
If he sold those today, they'd be worth $9.5 million.
Dad passed away in early 2016. He never saw the great bull run in bitcoin, but I'm sure he'd be well pissed if he knew what it was trading for today.
That gives you perspective in how much the bitcoin valuation and market has exploded over the last decade. It's a financial instrument, speculative to be sure, that's had unprecedented gains relative to equities, commodities, and real estate, even in the context of the overall unprecedented bull market of the past decade.
This is all to say that the hype around bitcoin and cryptocurrency is understandable. People who pay any attention to financial news are often struck with FOMO, the fear of missing out, after reading about such gains.
The problem with looking at historical prices of any financial asset is that hindsight is 20/20. There's an error in logic that sinks into your psyche when looking at a price boom: "Man, I had bitcoin in 2012! If I kept those coins, I could sell today for millions!"
But would dad have kept the coins until today? Or would he have sold by the end of 2016, when bitcoin had run up to almost $1,000 a coin. That would have given him 100x gains.
My bet is anybody would've sold out. The few who didn't sell their whole stack are few and far between.
But humans are very good at convincing ourselves that hypothetical situations with the very best of outcomes are possible.
Case in point, buying bitcoin for peanuts and selling for millions at all time highs without selling much before the price got there.
You might be wondering why the hell I'm even talking about all of this.
And the answer to that is very simple.
It's this novel little aspect of human psychology that gives scammers a point of entry into a mark's psyche so that they may exploit it for profit.
Fear of missing out. Or believing that we are smart enough to have timed the market — that the very best outcomes of hypothetical scenarios would’ve been likely.
It's hubris, plain and simple.
And none of us are really immune from it.
It's exactly at this point where I'd like to jump off from my rough sketch of bitcoin's background and into the nitty-gritty details of a scam that fits snug into our bitcoin age.
There's nothing new about this scam, at its core. It's a confidence play. The scammer builds trust with the mark and gets them to make small commitments, slowly escalating the con as the scammer asks more and more of the mark.
The scammer wins the trust of the mark initially by posing as a beautiful young woman, a sophisticated and elegant Hong Kong or Chinese girl, who travels the world (she’s supposedly in Canada here), eats sushi, loves her dog, and also has a penchant for trading bitcoin — and making a small fortune doing so.
Who wouldn't love a girl like Jenny?
I have to admit, if she started whispering sweet nothings of love and fortune into my ear, I'd be like putty in her hands.
But like yourself, I'd also question why this beautiful, successful woman was taking an interest in me. Most guys would.
Let's face it, if you're reading this newsletter, you're probably not accustomed to women like this throwing themselves at your feet offering their body, heart, and the chance to make a fortune along with her.
And if I'm wrong and you do have women like this, then count yourself as one of the lucky ones. I'm not a player hater — you do you.
The point when the average guy realizes that something's up when a woman like Jenny takes an interest in them, when it seems too easy, is where the scammer's ploy ends and they abandon ship to find the next mark.
It's just a numbers game, and the odds work against the scammer. I'd reckon that 99% of us normal duffs would block Jenny the minute she started talking money.
But that's no matter to the scammer. If they persist, they profit. That much is certain.
How much is in it for the scammer in finding a willing mark?
Jenny's bilked thousands of dollars. Hundreds of thousands of dollars. Maybe more, if she's been lucky. We don't know all the victims she’s gotten to. There are still many more out there that haven't come forward to tell their story.
I don't write any of this to shame or embarrass the marks who fall prey to a confidence game. In fact, I chose to write this story for the exact opposite reason — my aim is to educate, to show that if you are human then you are vulnerable to the psychological conditions that can make you a scammer's next mark.
The purpose of this story is to do two things.
One, is to establish and out the scammers of a very specific scam that has claimed multiple victims and is currently in operation.
We believe that outing the scam as it is taking place out in the world, raising awareness around the issue, bringing victims together to share their stories — as I anticipate this story spreading far and wide, much like my other work, and people contacting me.
Outing scam has merits on its own.
There's evidence that forums and social media that have talked about this scam so far have been targeted by sock puppet accounts looking to discredit the claims of victims. This is a part of the story we will focus on later on, the fact that the scammers are organized enough to launch misinformation campaigns to discredit victims and their stories.
True Crime Thailand is fully prepared to stand up against the disinformation campaign of scammers once this story is published and spreads to our audience and beyond.
But more importantly, this story and the details of the scam will serve as a window into the psychological underpinnings of both the scammer and the mark, the perpetrator and the victim.
It will be a step by step account of how the mark is identified, the conversations that are had, and the escalation of the scam to the point where money is lost and the awareness that one has been had finally dawns.
If you're thinking, "Well hold on True Crime Thailand, hold your horses. There's no way I'd fall for a scam" then I still invite you to read on. You might pick up a thing or two along the way as I spill ink and unfurl the story for you.
I warn you now. As I lay out the full chat transcript between Jenny and her mark, you may react in a variety of ways. I anticipate a few of these ways below.
Some of your reaction may be vicarious anger and embarrassment as you wonder how somebody could fall for this.
Some of it will be shocking as you read the mark state clearly that he knows the whole thing is a scam and still goes on to shell out more money.
Some of it was hard for me to read for this reason. It's like I wanted to jump into the chat and throw up my hands, grab the mark and shout at him, "No! What are you doing! You see it's a scam, delete this bitch now and block her!"
But just like when we watch movies that grab hold of us and we want to warn a character we love about their impending doom that we can see play out in the drama they haven't realized yet, there's nothing we can do to help the mark’s predicament that you'll read about below.
The only thing we can do is give them the benefit of the doubt, read their story, and share it with others so that they may avoid the same fate.
I chose this particular bitcoin romance con as a door to open up the psychology of scams and the mechanisms that make them effective. I pored over dozens of academic and scientific research articles on the subject, which I pillaged for insights that might illuminate the story and the subject of scams.
The way I will tell this story will be to weave the text chat of the scammer and the mark in with insights and commentary of the psychology at play.
There were nearly 100 pages of chat log transcripts that I was given.
I will quote from them where useful, removing repetition and redundancy, and comment on the process of the scam, both from the technical level of what the scammer is doing and the psychological level of how they scammer is manipulating the mark.
I chose this method so that this story can address this scam in the most thorough way possible — leaving no stone unturned in how the scam worked, leaving no corner of the victim's psyche unexplored.
It may seem tedious to include the chat transcripts.
But I made this decision very consciously and after much internal debate. After reading through these transcripts several times, I believe that the only way to truly understand the psychology behind the decisions made is to review them with close scrutiny.
Let's get started then.
I've rambled enough.
My readers always tell me I do, anyway — "Make it snappier, True Crime Thailand! You write too much!"
In loving the people and ruling the nation, can one be without manipulation?
愛民治國, 能無為乎
Lao Tzu, Tao Te Ching, Chapter 10 第十章
"How could they have fallen for that?"
That's the question that first pops into your head when you first read about a scam.
It's the same question that came to my mind when I first read this story, too.
I was sent a chat transcript between one of the scam's victims and the scammer, who called herself Jenny.
I read it and re-read it multiple times searching for a deeper answer as to why the victim fell for this. By all accounts the man seemed logical, rational, and well-spoken every time I interacted with him.
I wanted answers — and so I started researching the literature on the psychology of scams. I compared the notes I took while reading a dozen or so studies that have been done on the matter along with the chat logs between this victim and Jenny.
What follows in the rest of the story is my reading of these chat logs paired with insights from the literature of the psychology of scams.
The transcript starts near the beginning of the interaction between the two, but there are some details and build up that is missing from the material I was given.
What I have starts with this:
2020-12-24, 10:57 a.m. - Victim: The fees are outrageous! 😂
2020-12-24, 10:58 a.m. - Jenny:
Click here. You need to confirm that your wallet address is correct
2020-12-24, 10:59 a.m. - Jenny: It's okay. These small expenses are insignificant in our income
2020-12-24, 10:59 a.m. - Victim: I was making fun 🤡
2020-12-24, 11:00 a.m. - Jenny: Ok, we just need to wait patiently for it to complete. After the transfer is successful, send the screenshot to the welfare customer service
2020-12-24, 11:01 a.m. - Victim: Ok, so we can go back to loving each other through text? Getting to know more about each other?
2020-12-24, 11:02 a.m. - Jenny: Haha of course. But I think we should finish what we are now.
2020-12-24, 11:02 a.m. - Jenny: ☺️
Very early on it's clear that the victim is looking not for money, but for love. That's a key element to the way this scam works.
There are millions of lonely guys out there right now, especially in this time of social isolation.
Humans crave connection and belonging. Some of us are fortunate to be surrounded by loved ones and may even have a romantic partner in our life that we can trust and depend on.
There are many who don't have that. But their very human need for connection remains.
It's this need that this scam exploits.
A scam has no legs without the emotional, visceral buttons that can be pressed in the human psyche.
All it takes is a small opening, a moment's vulnerability, a door unlocked to your mind for the scammer to enter and start systematically pressing every button in the exact right order — like a cheat code — to get you to fork over money or whatever else the scammer's looking for.
The scammers exploit very basic human desires and needs: greed, fear, avoidance of pain, the desire to be liked and loved. Each time one of these buttons is pressed, the mark closes their eyes to the information that is right in front of them that the rational, logical mind would spot immediately as a scam.
And this is how Jenny and this operation has been so successful.
If one word could characterize the covid age, it would be loneliness.
Millions of people have lost their jobs. Personal finances upended. Desperation set in as the COVID19 virus and the response to it continues to steamroll the economic landscape with no end in sight for its destruction.
And that's not the worst part.
In many parts of the world, friends and family have been at various times over the past year forbidden to meet up for normal social activity.
No more dinner parties. No more chess clubs. No more movie nights. No more BBQs.
Even worse, loved ones on their deathbeds must die alone, with their last warmth and final goodbyes coming from a Zoom call that flickers on a screen with their loved ones on the other end of the digital abyss — their human connection just a mirage of bits, 1's and 0's.
Holidays have been cancelled the world over. Thanksgiving in America, Christmas in the UK, and Songkran in Thailand.
It was right around Christmas, the time in the Western world when people crave belonging the most, as we were trained from our earliest days to do — gift giving, family meals, and all the drama that getting together with kith and kin entails — that one of the victim's fell into Jenny's well-laid trap.
2020-12-24, 11:02 a.m. - Jenny: What do you want to know about me
2020-12-24, 11:03 a.m. - Victim: I am looking for the confirmation of the transaction.
2020-12-24, 11:05 a.m. - Jenny: You need to see if you receive an email
2020-12-24, 11:05 a.m. - Victim: I did
2020-12-24, 11:05 a.m. - Victim:
2020-12-24, 11:05 a.m. - Jenny: You have to click confirm in the email
2020-12-24, 11:06 a.m. - Victim: I did that too
2020-12-24, 11:08 a.m. - Victim: I have not found where I can see transaction history on Crypto.com
2020-12-24, 11:08 a.m. - Jenny: Send this to the welfare customer service
2020-12-24, 11:08 a.m. - Victim: Ok
2020-12-24, 11:09 a.m. - Jenny: You check if the funds in your Crypto.com have been transferred
2020-12-24, 11:09 a.m. - Victim: Welfare or customer service?
2020-12-24, 11:09 a.m. - Victim: They have been withdrawn
2020-12-24, 11:10 a.m. - Jenny: Welfare customer service
2020-12-24, 11:10 a.m. - Victim: Okay
2020-12-24, 11:10 a.m. - Jenny: Then wait for customer service to reply
2020-12-24, 11:11 a.m. - Victim: Ok
2020-12-24, 11:12 a.m. - Jenny: It's okay, take your time
22020-12-24, 11:13 a.m. - Victim:
2020-12-24, 11:14 a.m. - Victim: Should I say "no"
2020-12-24, 11:17 a.m. - Jenny: You have completed 3000 activities. Ask customer service for bonus benefits
2020-12-24, 11:18 a.m. - Victim: I understand. I answered "maybe"
2020-12-24, 11:21 a.m. - Jenny: OK. You check if you have received the bonus
2020-12-24, 11:21 a.m. - Victim: No laugh huh? I answered "yes."
2020-12-24, 11:22 a.m. - Jenny: Haha you said maybe. I did laugh
2020-12-24, 11:23 a.m. - Victim: I like you when you are having fun.
That was an easy $3,000 — done with a joke and a laugh.
The mark likes when the scammer's having fun. And I'm sure Jenny is having a full laugh as she just made her first score on this mark.
Another little thing happened here that nearly guarantees more money to change hands from the mark to the scammer. The induction of behavioral commitment. It's a small step of compliance to draw the mark in, making them feel committed to send in more money. They've done it once, after all.
The mark's "opened their wallet" as the old saying goes in sales. Once the wallet's open, it's much harder to shut it than if it stayed closed to start.
If you're unclear what happened in the chat with the BMETF Welfare Coordinator, I'll give a quick rundown.
The mark was asked to transfer $3,000 in USDT, or US Dollar Tether, a crypto-currency that's used as a placeholder value pegged to the US Dollar, from his wallet to the scammer's wallet.
The mark thought he was depositing the funds into a trading account that he could use to speculate on the movement of bitcoin. The chat with the welfare coordinator working with BMETF — which is the name the scammers gave to their operation to give it legitimacy — ensured the mark that the USDT was received and $3,000 would be available to trade in his account within 24 hours.
What's clever about this is that there were no bank account details revealed by the scammer. They used cryptocurrency wallets to exchange funds, which makes the transaction instant and more difficult to track down.
No government regulated bank accounts. No routing numbers. No clunky money orders.
There's still a paper trail, but it's through disposable "wallets" that can easily be cycled through and discarded once the mark's been taken for all their worth.
2020-12-24, 11:24 a.m. - Victim:
2020-12-24, 11:26 a.m. - Jenny: There are three ways for mining platforms to gain revenue. The first is to buy nodes to earn benefits. The second is to get bonuses for the activities you do on the platform now. The third is to participate in the platform's dividend activities.
What you see in the photo above is the bonus that was earned on the deposit.
So, there's an incentive in sending the scam platform USDT. You get an immediate bonus on deposit.
Who wouldn't love that? It's one of the three ways to "gain revenue", as Jenny says.
2020-12-24, 11:28 a.m. - Victim: Ok
2020-12-24, 11:29 a.m. - Jenny: You and you are not working today. I will first look at the stability of the trend. Then I will take you to trade
2020-12-24, 11:30 a.m. - Jenny: Now that you have funds, it also improves the security of some transactions
2020-12-24, 11:30 a.m. - Victim: I have some tasks to complete though nothing time sensitive that I could not stop & pay attention at any time.
2020-12-24, 11:31 a.m. - Victim: I am so very happy you have joined me in my journey through life Jenny 🥰🥰🥰🥰
The mark and the scammer started chatting only weeks before.
In the literature of the psychology around scams, it's said that the most direct way to get to the victim is through induced scarcity.
Convincing the victim that they've found something really special and unique.
Here’s another photo of Jenny, provided by a different victim. This time she says she’s in Toronto.
Jenny is offering her companionship. A beautiful young Asian woman, sophisticated and willing to guide the mark to financial freedom.
It all seems improbable when you're reading it with your rational mind. When you apply logic to the information before you.
One characteristic common to scam victims is social isolation.
This is why the offer of companionship works as the first commitment in the scam to draw the mark in and open them up enough so the scammer can start pressing the right buttons — the visceral triggers that will open their wallet.
The psychological research says the ability to process information is hampered when these emotional buttons are pressed. The mark becomes incapable of considering the pros and cons of a decision and pitfalls are neglected.
Strong, visceral motivational states are aroused under the right conditions in the mark when the scammer presses the right buttons.
One of these motivational states is called phantom fixation. It's a type of mood regulation, where the mark wants to replace a negative feeling and mood with a hopeful or positive mood.
Thus, the despair of loneliness becomes the joy of companionship.
As the mark says, "I am so very happy you have joined me in my journey through life Jenny 🥰🥰🥰🥰" even after only knowing her for days.
We can read this as a major error on the mark's part.
We could point and laugh and blurt out, "What a fool! He should've seen this coming a mile away! I'd never do this!"
But the need to belong. The need to escape the despair of loneliness will override the rational mind nearly every time if the right visceral influence comes in.
And thus Jenny steps in.
Her goal is to create a phantom fixation in the victim on the prize — both her and the financial freedom gained from bitcoin trading. The mark then becomes motivated to obtain this reward and perversions in rational decision making follow.
As she says, "Then I will take you to trade."
This is an important element as the scam unfolds.
The mark and the scammer do this together, hand in hand. It's a collaboration.
2020-12-24, 11:32 a.m. - Jenny: what are you going to do?
2020-12-24, 11:32 a.m. - Jenny: What do you need now?
2020-12-24, 11:32 a.m. - Jenny: This means you earned $326 today
2020-12-24, 11:33 a.m. - Victim: 😳🤑🥳
2020-12-24, 11:34 a.m. - Victim: I need to remove the refuse from my job yesterday. I also need to return a rented scaffold platform for the girls of [redacted]
2020-12-24, 11:35 a.m. - Victim: All on my own time whenever I choose
2020-12-24, 11:37 a.m. - Jenny: Then you are busy. We will do it when you have time? I hope you can concentrate on doing this
2020-12-24, 11:37 a.m. - Victim: I can concentrate whenever you want me to. I am in no hurry
2020-12-24, 11:38 a.m. - Jenny: why
2020-12-24, 11:38 a.m. - Jenny: Ok dear
2020-12-24, 11:39 a.m. - Jenny: You are a smart student
2020-12-24, 11:39 a.m. - Jenny: That's it
2020-12-24, 11:39 a.m. - Victim: It helps to have a patient, savvy, & SEXY teacher Jenny
Jenny positions herself throughout the conversation as a teacher.
She will instruct the mark on how to win a financial future of freedom and prosperity. The mark is her student.
The tactic of the scammer assuming one role as the teacher and the mark taking the complementary role as student is called altercasting.
Scammers use this to induce a cognitive state of trust in the interaction. The mark intuitively feels that the scammer will act as a protector and instructor in this scam.
This is a technique that can't work to a great degree unless there are other trust bonds built first. In this scam, the mark already feels like Jenny likes them and that they've won a beautiful woman on the dating app. It's an easy step to move onto the "teacher/student" role from there, whereas without those initial romantic feelings, it would be a more difficult sell to the mark.
Once this altercasting technique is deployed, where Jenny becomes the teacher and the mark becomes her student, the victim will defer to Jenny's knowledge implicitly throughout many of the following interactions.
Even as doubt creeps up about the scheme, the mark slowly realizing that this is a scam, Jenny is still deferred to as a source of knowledge.
The social rules around certain relationships, whether they be romantic, friendship, professional, or in other social spheres, dictate much of the implicit behavior of our persona when we interact with others.
Altercasting gives the scammer a powerful tool to dictate the terms of the scam. Once this is established, the mark is more entrenched than they were before. Now there are dual personas that they must negotiate with — Jenny as love interest, and Jenny as instructor.
You will see how these two roles conflict internally for the mark as the conversation continues.
2020-12-24, 11:46 a.m. - Victim: No peeking 😉, I must get naked 😱 before dressing to go out 😎
2020-12-24, 11:49 a.m. - Victim: Always remember Jenny, for me, developing our relationship is my priority. You are important to me. I could live fine without you I choose not to.
2020-12-24, 11:50 a.m. - Jenny: Of course
2020-12-24, 11:51 a.m. - Jenny: 😂😂
2020-12-24, 11:51 a.m. - Jenny: Barry, I'm sharing my resources with you because I think you're important.
2020-12-24, 11:52 a.m. - Jenny: We need to develop a long-term relationship.
2020-12-24, 11:52 a.m. - Victim: Who is "Barry?" Are you seeing other guys?
2020-12-24, 11:53 a.m. - Victim: 🥰
2020-12-24, 11:53 a.m. - Jenny: This is my nickname for you, I hope you remember it "barry"
2020-12-24, 11:53 a.m. - Jenny: Do you not like it
2020-12-24, 11:54 a.m. - Victim: 😱😂🤣
2020-12-24, 11:54 a.m. - Jenny: Or do you prefer dear
2020-12-24, 11:55 a.m. - Victim: Damn, you are fast & clever.
2020-12-24, 11:55 a.m. - Jenny: what,?
2020-12-24, 11:56 a.m. - Jenny: Barry is so nice, you don't like it
2020-12-24, 11:56 a.m. - Jenny: 😔
2020-12-24, 11:56 a.m. - Victim: Yes
2020-12-24, 11:57 a.m. - Jenny: Ok i know
2020-12-24, 11:57 a.m. - Jenny: Darling, you open BMETF
2020-12-24, 11:57 a.m. - Victim: My mom would be HORRIFIED! I know she must have agonized over what to name me for at least 5 minutes. I am not sure if Barry was on the list 😂
2020-12-24, 11:57 a.m. - Victim: Ok
2020-12-24, 11:58 a.m. - Jenny: lol is so serious?
2020-12-24, 11:59 a.m. - Victim: Listen Brenda
2020-12-24, 11:59 a.m. - Jenny: Now your capital is 3000. The plan I made for you is 20 60 180 540
2020-12-24, 11:59 a.m. - Victim: Why thank you my sweet
2020-12-24, 12:00 p.m. - Jenny: ？
2020-12-24, 12:00 p.m. - Victim: For creating a plan for me
There's a great deal of tension when reading this section of the chat log.
It's clear to see from our vantage point as readers that Jenny just about screwed the pooch — it's anathema to a man to bring up another man's name.
The slip up raises a red flag in the mark's mind, but just for a moment. The prospect of losing Jenny over being called by another man's name is too much.
Better to play it smooth. Play along. Make a joke, one that sadly doesn't land, as Jenny is clearly not a native English speaker and is using something like Google translate to keep the chat going.
But even Jenny knows she dropped the ball here. So she plays along, too. But quickly tries to get the mark back onto the subject of trading, instructing him "Darling, you open BMETF."
In the end the scam's salvaged. The mark is still thankful for Jenny's persistence in guiding him with her plan for his financial future.
A future that at this point is imagined very differently in two minds: for the mark, it's a future of financial freedom, daytrading his account to millions with a beautiful young Hong Kong woman; for Jenny, it's stripping the mark down for every last dime that he's got.
For make no mistake. As the chat log carries on, Jenny is savage and unrelenting in her demands.
She won't stop until she has it all.
2020-12-24, 12:00 p.m. - Jenny: Enough to buy "Bull" 20
2020-12-24, 12:00 p.m. - Victim: Do this now?
2020-12-24, 12:01 p.m. - Victim: Done
2020-12-24, 12:02 p.m. - Jenny: Buy "Bear" now20
2020-12-24, 12:02 p.m. - Victim: Success +39
2020-12-24, 12:02 p.m. - Jenny: Yes .
2020-12-24, 12:02 p.m. - Victim: Donr
2020-12-24, 12:04 p.m. - Victim: Jenny, do you mine while naked too?
2020-12-24, 12:05 p.m. - Jenny: If so what do you want to do to me
2020-12-24, 12:05 p.m. - Victim: Failure
2020-12-24, 12:06 p.m. - Jenny: Buy bear 60
2020-12-24, 12:07 p.m. - Jenny: After the failure, we must perform the "Triple Shot" so that we can recover the previous loss
2020-12-24, 12:07 p.m. - Victim: Welllllll now, let us wait until evening for me to explain exactly what I would do with a naked Jenny😈 😉
A couple trading wins, and the mark mixes up the euphoria of the gamble with the sexual hunt — escalating the chat with Jenny.
These little rushes work in tandem.
Win a trade and the ego boost makes it easier for the mark to make a move on Jenny.
Jenny knows full well what's happening here. She's seen it from every single one of her marks. The reactions are always the same.
She keeps it professional, bringing the focus back to the trading with "After the failure, we must perform the 'Triple Shot' so that we can recover the previous loss" — adding a touch of innuendo along with it.
But she plays along, too. She knows that the more excited the mark becomes by the prospects of sex, the more she can extract from his wallet.
2020-12-24, 12:08 p.m. - Jenny: I think you will do something bad to me
2020-12-24, 12:08 p.m. - Jenny: 😂😂
2020-12-24, 12:08 p.m. - Jenny: But maybe i like it
2020-12-24, 12:08 p.m. - Victim: So very very bad
2020-12-24, 12:09 p.m. - Victim: To tell your mom about 😂
2020-12-24, 12:09 p.m. - Jenny: Haha my mother won't let you do this
2020-12-24, 12:09 p.m. - Victim: Your girlfriends might scream in shock, envy and jealousy
2020-12-24, 12:09 p.m. - Victim: Try to keep her out of our bed.
2020-12-24, 12:09 p.m. - Jenny: Buy "Bear" now 20
2020-12-24, 12:10 p.m. - Victim: Success +117
2020-12-24, 12:11 p.m. - Jenny: Then I threw you down?
2020-12-24, 12:11 p.m. - Jenny: 😂
2020-12-24, 12:11 p.m. - Jenny: Threw you on the bed
2020-12-24, 12:12 p.m. - Victim: When I am done with you my love you would purr like a kitten 😎
2020-12-24, 12:13 p.m. - Jenny: Buy Now "Bear" 20
2020-12-24, 12:13 p.m. - Jenny: 😂😂
2020-12-24, 12:14 p.m. - Jenny: is this real?
2020-12-24, 12:14 p.m. - Victim: Cum to [city redacted] and you could confirm it yourself 😊
2020-12-24, 12:15 p.m. - Jenny: Haha i think i have a chance to confirm
2020-12-24, 12:15 p.m. - Victim: Maybe
2020-12-24, 12:16 p.m. - Jenny: Buy Now "Bear" 20
2020-12-24, 12:16 p.m. - Victim: Better find a cat do you can learn how it is done
2020-12-24, 12:16 p.m. - Victim: Done
2020-12-24, 12:17 p.m. - Jenny: I think you can teach me how to do it
2020-12-24, 12:17 p.m. - Victim: Damn, now my cock is hard I am not sure if it is the money making or your teasing me.
2020-12-24, 12:18 p.m. - Victim: Actually, it is your teasing me 😈
2020-12-24, 12:18 p.m. - Jenny: Don't you like this feeling
The play continues.
Jenny teases the mark, revealing a bit of herself to him. Showing just enough to keep him salivating.
She doesn't neglect her role as teacher and guide to the bitcoin trading market — "Buy now 'Bear' 20" she tells the mark twice.
And then she flips the role, letting the mark take the lead with the sex chat: "I think you can teach me how to do it."
This empowers the mark.
Gives him the thought that he has control.
There are two buttons in the mark's psyche being pressed here.
One is referred to in the literature as liking and similarity. An easy concept to grasp that boils down to the fact that people tend to like people who like them. Jenny is playing along, giving the mark the right cues to show that she likes him and wants him to continue his pursuit. A similarity develops between the two as they both share their private sexual desires. Empathy develops. The mark feels closer to the scammer with every line of this chat.
The other button is reciprocation. This works on the idea that if people are given something, they feel a strong inclination to give something back. It's a basic tendency that's exploited by scammers, usually by giving them a small gift, or by bending the rules in favor of the mark, to lure them in.
This principle usually starts a scam and gets the ball rolling. But it's also done throughout the chat in various ways. Getting bonus offers from deposits, for example.
It's a bit subtle here but Jenny is offering the mark to become her teacher. It's an offer that will induce a great need on behalf of the mark to reciprocate later down the road, especially if he wants to get the feeling back of what he's experiencing now.
Right now he's on top of his game.
He's making money with Jenny. They're winning trades. Now he's on the hunt for sexual gratification — and Jenny is a willing victim for him.
At last, Jenny asks the mark, "Don't you like this feeling" — a question with a bit too much awareness, telling us that she knows exactly where she has the mark right now.
2020-12-24, 12:19 p.m. - Victim: I am going to really love the feeling of the small of your back as I pull you do very close
2020-12-24, 12:20 p.m. - Victim: Do you like sex Jenny?
2020-12-24, 12:20 p.m. - Jenny: My chest sticks to your back
2020-12-24, 12:20 p.m. - Jenny: I like it. But I only do it with the one I love
2020-12-24, 12:20 p.m. - Victim: Hmmmmm
2020-12-24, 12:20 p.m. - Victim: 🥰🥰🥰🥰🥰🥰
2020-12-24, 12:21 p.m. - Jenny: Buy Now "Bear" 20
2020-12-24, 12:21 p.m. - Victim: You are AMAZING Jenny
2020-12-24, 12:22 p.m. - Jenny: I only do this with the people I love and the people who love me
2020-12-24, 12:22 p.m. - Victim: 🔥
2020-12-24, 12:23 p.m. - Jenny: Buy Now "Bear" 60
The chat continues on like this for several pages.
Back and forth between Jenny and the mark, who from our vantage point is getting tied up around Jenny's finger quite neatly.
Further along in the chat log, Jenny comments on the mark's sexual desires, revealing that she's never even thought of the things the mark wants to do. She also confesses that she's only had one sexual partner in her whole life.
A single 4 year relationship.
This gives her an air of purity, a "good girl" persona that the mark mentally latches onto as a trust signal.
2020-12-24, 12:44 p.m. - Jenny: Your current funds are much better than before. This way the security is also relatively high
2020-12-24, 12:45 p.m. - Victim: I am sorry it did not last your lifetime
2020-12-24, 12:45 p.m. - Jenny: It's okay, it's all over
2020-12-24, 12:45 p.m. - Victim: All because of your suggestions my love.
2020-12-24, 12:46 p.m. - Jenny: In fact, it is more cost-effective to make an appointment to get the bonus. Because it is 100% safe to get bonus
2020-12-24, 12:46 p.m. - Victim: Is it known as impolite to ask a lady's age in your culture?
2020-12-24, 12:46 p.m. - Victim: 👍🏻 Yes, I understand that now.
2020-12-24, 12:47 p.m. - Jenny: My dear, I think you can proceed to book the next event now.
2020-12-24, 12:47 p.m. - Jenny: Yes. But I don’t think it matters
2020-12-24, 12:47 p.m. - Victim: 😊
2020-12-24, 12:48 p.m. - Victim: How?
2020-12-24, 12:49 p.m. - Jenny: You can make another appointment
2020-12-24, 12:50 p.m. - Victim: So, go to welfare coordinator and ask for an appointment?
2020-12-24, 12:51 p.m. - Victim: I am not sure I understand clearly
2020-12-24, 12:53 p.m. - Jenny: If you have enough funds to complete the next activity, then you can make an appointment
2020-12-24, 12:53 p.m. - Jenny: Because it is very cost-effective.
2020-12-24, 12:56 p.m. - Jenny: You can do a 5000 or 10000 event, so you can get 388USD or 888USD bonus
2020-12-24, 12:59 p.m. - Victim: So you are saying, take more off of my credit cards to increase to 5000
2020-12-24, 1:02 p.m. - Victim: That could be quite stressful for me to accomplish
2020-12-24, 1:04 p.m. - Jenny: Yes, what is the limit of your credit card?
2020-12-24, 1:06 p.m. - Jenny: Dear, think about it carefully. In this way, your profit will be greater. After you make money, withdraw it to your personal account and then top up the credit card funds.
Jenny is right back at it. She sees this as the perfect opportunity to strike for more money.
The scammer is willing to play along, but only to further the goal of extracting more resources. It's a tight game that they're playing.
Give a little slack in the rope, then wrap it around the mark's neck to pull them in.
Jenny poured the right cocktail of neuro-chemicals into the mark's brain and now he's ready for the next big ask.
She wants to escalate the financial commitment, just as he escalated the sexual tension with her. Jenny's shameless asking "Yes, what is the limit of your credit card?" right after the mark balked at the idea.
She positions this as a logical move, telling the mark that the profit potential will be much greater if he acts now with urgency.
2020-12-24, 1:06 p.m. - Victim: That one I used is now maxed. I would need to use another or pay the balance down out of work cash flow.
2020-12-24, 1:06 p.m. - Jenny: Borrow money from the bank to earn more for yourself
2020-12-24, 1:06 p.m. - Victim: I do understand what you are saying.
2020-12-24, 1:08 p.m. - Jenny: I mean you add more funds. Then you will get more benefits. The mining platform has 4 rooms. The odds of each room are different. We need to learn each room slowly
2020-12-24, 1:08 p.m. - Victim: These practices in investing are HUGELY frowned upon. I do understand you can produce high returns and it could all work out it is just that there are no guarantees when investing. Your plans do seem quite reasonable though.
Jenny keeps pushing, and it's right here where the mark shows some awareness that this is a risky proposition.
The logical, rational decision making part of the brain kicked in just enough to trigger that response.
Will it be enough, though?
Would you end the chat here?
Perhaps.
But the hook's already been set. There are deeper motivations at work already. Emotional ones that will be much harder for the mark to free himself from as the scam carries on.
2020-12-24, 1:09 p.m. - Jenny: Does the credit card you use now have no balance
2020-12-24, 1:09 p.m. - Victim: No more balance left, though, today is payment day for that card too!
2020-12-24, 1:10 p.m. - Jenny: Yes. But a profitable investment is a good investment project. And we invest to make money
2020-12-24, 1:10 p.m. - Victim: I will need 2000CAD to get to the 5000.00
2020-12-24, 1:11 p.m. - Jenny: I mean you can add some more funds to participate in the 5000 event. This way we can also earn an extra 10% of the income. That will be 388 dollars
2020-12-24, 1:11 p.m. - Jenny: Yes
2020-12-24, 1:12 p.m. - Jenny: Because it’s more cost-effective to be active during Christmas now. I don’t think we should give up the opportunity now.
2020-12-24, 1:12 p.m. - Victim: I understand I will need time to work this out.
2020-12-24, 1:13 p.m. - Jenny: Now the mining platform has a Christmas event. I am going to participate. It belongs to the deposit and will give you a 30% bonus
2020-12-24, 1:14 p.m. - Jenny: Now Christmas is approaching. The number of activities is limited. So you have to hurry up.
2020-12-24, 1:14 p.m. - Victim: Congratulations
2020-12-24, 1:16 p.m. - Victim: I did not even realize that today is Christmas Eve
2020-12-24, 1:16 p.m. - Jenny: Thank you. But it requires a deposit of at least $20,000 to participate. But I can get a reward of $6,000
2020-12-24, 1:16 p.m. - Victim: My bank is closed now
2020-12-24, 1:16 p.m. - Jenny: I told you yesterday. Let you remember to eat an apple tonight
2020-12-24, 1:17 p.m. - Jenny: so
2020-12-24, 1:18 p.m. - Jenny: You can make an appointment with the welfare customer service first. So you can reserve a place first
2020-12-24, 1:18 p.m. - Jenny: Because the places are limited.
2020-12-24, 1:20 p.m. - Jenny: I hope all the things I share with you can benefit you the most
Jenny keeps pressing the urgency of making this decision.
She backs this up now with the platform's supposed Christmas event, which was likely a ploy used with others to open their wallets for the holidays.
The motivation to act would be a hefty bonus of 30% ($6,000) on a $20,000 deposit.
If the mark had the funds at this moment, it's almost certain he'd pony them up. But his credit card was maxed out and the banks were closed for the holiday.
It's likely this saved him a venomous financial sting — at least for now.
The chat moves on with Jenny invoking a bit of holiday spirit.
2020-12-24, 1:26 p.m. - Jenny: I want a Christmas gift to be a Santa
2020-12-24, 1:27 p.m. - Jenny: Hehe will you be my santa claus
But the intent is clear: get the mark to act with the next deposit, and fast.
2020-12-24, 1:35 p.m. - Jenny: Have you made an appointment with the welfare customer service?
2020-12-24, 1:35 p.m. - Victim: Ok, I will not worry. Whatever happens happens 🤷🏼♂️
2020-12-24, 1:36 p.m. - Victim: I have not. My bank is closed I cannot deposit the cash needed for my credit card.
2020-12-24, 1:37 p.m. - Jenny: I think you can deposit cash into a debit card to make it more convenient to purchase instead of a credit card
2020-12-24, 1:38 p.m. - Jenny: Use netcoins with a debit card
2020-12-24, 1:38 p.m. - Victim: The bank is closed, I do not have enough left on debit to complete the transaction
2020-12-24, 1:39 p.m. - Jenny: It's okay. You can make an appointment first. Do it tomorrow.
2020-12-24, 1:39 p.m. - Victim: I only have actual cash left to work with.
2020-12-24, 1:39 p.m. - Jenny: No. She shouldn't do this. I will feel sad
2020-12-24, 1:41 p.m. - Jenny: I know what you said. I mean you can deposit your cash to your debit card
2020-12-24, 1:41 p.m. - Victim:
Tomorrow is Christmas everything is closed I still could not deposit the actual cash I have on hand. It is not enough anyway
2020-12-24, 1:42 p.m. - Victim: I do not want you sad.
2020-12-24, 1:43 p.m. - Victim: Only if the bank was open
2020-12-24, 1:43 p.m. - Jenny: It's okay. Wait for the bank to open the door before doing it. The bank should be on holiday for a few days
Jenny is giving the mark several ideas and paths to rustle up the funds. It's a fine line she's treading, as it's clear the mark won't be able to do anything until after the holiday.
But the mark's playing along. He feels compelled enough to take a photo of his entire bankroll, the last cash he has on hand, to show what funds he has access to.
It's not enough. The mark falls short of Jenny's expectations and in one line sums up the motivation for keeping the chat going "I do not want you sad."
Jenny has him exactly where she wants him. He'll do anything to keep her happy. Even if it's to deposit the last of his cash on hand to get to the next bonus room on the fraudulent bitcoin trading platform.
2020-12-24, 1:53 p.m. - Jenny: Have you made an appointment?
2020-12-24, 1:54 p.m. - Victim: You are the sweetest of honey my darling Queen Jenny
2020-12-24, 1:55 p.m. - Jenny: of course
2020-12-24, 1:56 p.m. - Victim: I have requested yes
2020-12-24, 1:57 p.m. - Jenny: what?
2020-12-24, 1:58 p.m. - Victim: I have made the request to book an activity
2020-12-24, 1:59 p.m. - Jenny: OK Are you sure it is the welfare customer service
2020-12-24, 2:00 p.m. - Jenny: If you are sure you did it, then you work first.
2020-12-24, 2:00 p.m. - Jenny: I won't interrupt your work honey
2020-12-24, 2:02 p.m. - Victim: Yes
2020-12-24, 2:04 p.m. - Jenny: Ok
2020-12-24, 2:05 p.m. - Jenny: I believe you will do it
2020-12-24, 2:05 p.m. - Jenny: Pay attention to safety at work
2020-12-24, 2:06 p.m. - Victim:
2020-12-24, 2:08 p.m. - Jenny: It’s okay. You work hard. I’m going to prepare Christmas gifts for my colleagues
2020-12-24, 2:08 p.m. - Jenny: 🥰
2020-12-24, 2:25 p.m. - Victim: 🥰
2020-12-24, 5:40 p.m. - Victim: My love, anytime you want to chat I will make myself available.
In the end, the ploy was a success.
Jenny got the mark to commit to making a deposit to get up to $5,000 in the account.
Getting this commitment is key to the scam's success. It plays on the psychological motivations of commitment and consistency.
People tend to appreciate consistency both in their own behavior as well as the behavior and reactions of other people. It gives people a sense of control and predictability in the world.
There are multiple levels of consistency in the interactions between Jenny and the mark.
At a basic level there's the hello's and good mornings and the goodnights with the heart emojis.
Scams that persuade victims to make small commitments, even if without money involved, will make them more willing to respond in the same way in the future. Jenny secured another commitment from the mark here, and playing on the psychological motivation of consistency and commitment, the mark will now feel obligated to get the funds deposited once they're available.
Manipulating the motivation for consistency is used in sales as well. Get the prospect to make a small commitment, and bigger commitments are that much easier.
Once a small commitment is made, especially with money, then another psychological button is pressed: the sunk cost effect. This is where people take into account past costs when making present decisions, despite the fact that the current decision is more irrational than previous ones.
Sunk cost effects are particularly relevant to extended scams, where people keep sending money to the same scammer. Once the mark feels like they've already invested time and resources, they'll keep putting more resources in, especially if the scammer suggests that they just need to spend a little bit more to finally obtain value for what was paid out in the past — like love, or a big pay out.
The chat between Jenny and the mark continues on in a similar way for the next 10 to 15 pages.
There are little flairs in the conversation that unintentionally characterize Jenny. The mark doesn't even know it yet, or maybe he does unconsciously.
2020-12-26, 9:06 a.m. - Jenny: Good morning
2020-12-26, 9:07 a.m. - Jenny: Darling are you awake
2020-12-26, 9:08 a.m. - Victim: Yes, dear I am awake. Tell me of the big nature cats which is most like you? Cheetah, puma, lion etc?
2020-12-26, 9:09 a.m. - Jenny: I think it's a cat
2020-12-26, 9:09 a.m. - Jenny: 😅
2020-12-26, 9:09 a.m. - Victim: I am making you a nickname
2020-12-26, 9:10 a.m. - Victim: Do you like lion or cheetah?
2020-12-26, 9:11 a.m. - Jenny: Cheetah
2020-12-26, 9:11 a.m. - Victim: Ok, "Sleeping cheetah drunken angel" it is
2020-12-26, 9:12 a.m. - Victim: Or do you prefer "SCDA?"
2020-12-26, 9:13 a.m. - Victim: Are you still in bed?
2020-12-26, 9:14 a.m. - Jenny: LOL why
2020-12-26, 9:14 a.m. - Jenny: I'm up. What are you doing
2020-12-26, 9:15 a.m. - Victim: Because you are powerful yet sometimes drunk lol
Jenny chooses a cheetah, a big cat known for its speed in the hunt.
I wonder if she picked that one on purpose, a bit of a reveal to her character: she hunts fast and efficient, leaving no chance for her prey to escape.
I'd reckon that most reading up until this point can see exactly where this is headed — and they wouldn't be wrong. I think it's well-established for any reader now that Jenny has her claws lodged deep in the flesh of her prey, and the mark is near fully committed.
But it might help to take a few minutes and reveal some of the specific details of this operation and the application used to do the deposits and trading.
The specifics can illuminate for readers how this scam differs from your typical romance scam, as there is seemingly a whole company and organization behind this.
It's not just Jenny and her word — there are app developers, a customer service team, and seemingly many other users on the platform, which gives the whole scam an air of legitimacy.
End cunning, discard profit; Bandits and thieves no longer exist
絕巧棄利, 盜賊無有
Lao Tzu, Tao Te Ching, Chapter 19 第十九章
One thing that I found most interesting in the psychology literature around the phenomena of scams is how similar and how many times it was compared to the psychology of normal economic behavior: buying and selling, marketing, etc.
A scam is by definition illegal and fraudulent. But like I noted, one recurring theme in this scam — and others I've looked at — is how much they have in common with the marketing of legitimate products.
Except in this case, the scam is putting on offer something that is worthless or harmful to the prospect or mark: but the sales tactics don't differ.
With this in mind, I wanted to take you on a behind the scenes look of BMETF, the fraudulent bitcoin trading platform used in this scam — and which got tricked many others as well.
This is the loading screen for the BMETF app, which is where the fraudulent bitcoin trading takes place.
The first thing I notice: everything's in Mandarin.
Now if I would've seen that, I'd have deleted it off my phone immediately. You probably would've too.
But what's even more concerning is that this app wasn't downloaded from the Google Play Store or Apple iTunes App Store. It was an unauthorized app downloaded from a website that hosted the app.
BMETF — to make moeny for a better life, the tagline says.
Yeah. Right…
And then a gentle reminder that the "application requires permission to open unknown sources, please go to settings to enable permissions."
It's likely that the app could also be used as an easy way to gain access to the mark's device. In fact, the app itself causes a host of issues once installed, as will be seen in later chat logs between Jenny and the mark — the app seems to overheat the phone and cause network connectivity issues.
As you can see, this load screen in the background behind the "gentle reminder" looks fairly professional. It's got that techy, modern feel to it. Whoever designed this app took care to make it seem legit enough to get the job done.
This is what the user sees once inside the app.
Everything's there that you'd expect from a legitimate, functional app hosting a trading platform: online support, product description, financial news, trading history.
There are little errors and inconsistencies. Like "Bitcoin" being capitalized but "mining" remaining lower case. It's a small error, but it's sloppy.
The user can deposit crypto to the BMETF exchange through Coinbase, Kraken, Binance, or Huobi — four major exchanges that have won trust in the marketplace.
The user is encouraged to convert their crypto to USDT, or Tether coin, which is basically tied to the US Dollar. I'm aware that this isn't an exact description of Tether, but it's close enough for the purpose of this story — if you're curious about Tether, there's a Wiki page that can explain more about it.
The fact remains, bank accounts aren't needed in this scam. It adds a layer of anonymity of the scammer. They can take the funds through a transfer of cryptocurrency.
This is a novel and effective advancement to older scams that would require bank transfers, money orders, or loading gift cards with cash.
This shows what the user's dashboard looks like.
The user has $14,484.45 in Tether coin available for trading.
There are a variety of trading options available to the user in the lower half of this screenshot.
When Jenny takes the mark to trade, she instructs the mark what button to press, or what trade to enter, and how much to wager on any given trade.
This is an example of an order confirmation that pops up when entering a trade.
Again, all of this is developed for the user to give the platform an air of legitimacy.
More than likely, the whole thing was developed using an open source code that made it easy to lay on the BMETF skin and make adjustments needed here and there to get the app running.
That is to say, it's unlikely this entire app was programmed from scratch.
What I find interesting, however, is that the app is communicating with a server somewhere. The scammers are sophisticated enough to have set up a functioning app with servers to lure marks into the scheme.
Take note in the chat logs when Jenny brings up the different rooms that are available for the mark.
Each room, or level or tier, comes with higher levels of commitment.
The "Primary" room requires just $100 to enter. An easy commitment. This is where the mark starts — the first level of commitment.
In conversation and comments from other victims, it was noted that at this "Primary" room stage, the mark is able to withdraw funds. This is likely allowed for victims that appear to be whales, where more trust is needed in the beginning stages to gain higher levels of commitment for a bigger kill down the line.
The app is sophisticated enough to give the mark the impression of legitimacy.
It gets the job done with minimal red flags.
At this point you must also be wondering why I've even chosen this scam. There's nothing that I've presented so far that ties directly back to Thailand, which is the theme of all my writing on true crime and the cases I explore.
The fact is, this scam is international in nature.
The victims are found in Western Europe, the United States, Canada, Australia, and beyond. Anywhere there's a lonely guy with a bit of cash — that's where Jenny, or other scam profiles like hers, pop up on dating apps from Tinder to Facebook Dating.
This scam operation does bring up Thailand on multiple occasions.
The first time is when the victim chats with a customer service rep.
2020-12-28, 3:05 p.m. - Customer Service: Hello, you can add your exclusive welfare customer service WhatsApp, the number is:+66 62 747 5829
2020-12-28, 3:05 p.m. - Customer Service: Hello, you can consult your exclusive welfare customer service, thank you
That's a Thai country code for that phone number. So at some point, at least one of the network of scammers involved with BMETF registered a number in Thailand.
That’s a clue — of course I’ve tried calling the number, but it was disconnected. You can try again, of course.
Later on in the scam when the victim attempts to withdraw their money from the BMETF platform, the "exclusive welfare coordinator" says the following.
Pay taxes to Thailand?
What an odd suggestion.
It becomes a major point of contention for the victim later on.
From a close reading of the entire chat logs between the victim and the welfare coordinator along with the victim and Jenny, the issue of paying taxes in order to withdraw funds is what wakes the mark up to the scam. This will be explored fully further along in the story.
The victim is threatened at multiple points in the conversation with the welfare coordinator.
2020-12-27, 10:21 p.m. - BMETF Welfare Coordinator : You make an appointment with your own consent. So the problem is with you, not the platform,
2020-12-27, 10:21 p.m. - Victim: Careful who you threaten while being so evasive about the rules of engagement.
2020-12-27, 10:22 p.m. - Victim: You steal my money and I will make sure the world and every authority in it is aware of your scam.
2020-12-27, 10:23 p.m. - You blocked this contact. Tap to unblock.
2020-12-28, 11:11 a.m. - You unblocked this contact.
2020-12-28, 4:14 p.m. - Victim: I am also going to contact the government of Dubai whom you claim perpetuated this ponzi scheme to see what they think. Maybe I can get 15 minutes of fame by causing an international incident between all of our countries.
2020-12-28, 4:14 p.m. - Victim: I will work on this until my funds are returned.
2020-12-28, 4:15 p.m. - Victim: Keep your welfare ponzi scam rewards and any provided to myself.
2020-12-28, 4:18 p.m. - BMETF Welfare Coordinator : Hello, please pay attention to your words and deeds, this platform is protected by Dubai law, if any defamation of the platform. Will be prosecuted, you will pay for what you say,
2020-12-28, 4:20 p.m. - Victim: You don't scare me. I will get to the bottom of your criminal organization. Maybe I will attach this organization to my complaints & publicity too?
https://www.idaxa.org/
2020-12-28, 4:21 p.m. - BMETF Welfare Coordinator : I have notified the FBI of your behavior. You will receive a letter of prosecution from the Dubai Supreme Court. Please keep the phone open, thank you.
2020-12-28, 4:21 p.m. - Victim: Perfect
2020-12-28, 4:22 p.m. - BMETF Welfare Coordinator : If your actions cause any loss to the platform, you will not only bear legal responsibility but also be fined.
2020-12-28, 4:22 p.m. - Victim: Too bad the FBI has ZERO jurisdiction over me.
2020-12-28, 4:23 p.m. - Victim: Keep it up maybe I fly to Thailand and we talk in person with your government too.
2020-12-28, 4:23 p.m. - BMETF Welfare Coordinator : Hello, they will inform your country’s government and your police station,
2020-12-28, 4:24 p.m. - BMETF Welfare Coordinator : Our headquarters is in Dubai, but I warmly welcome you to Thailand so that we can resolve our conflicts
Now both Thailand and Dubai are brought up by the BMETF Welfare Coordinator.
It's an idle threat, of course. All this does is make the mark feel helpless and to bully them into submission. The FBI would laugh off anything like this and Dubai isn't going to prosecute anybody for defamation.
It's also extremely unlikely that the scammers are located in Dubai. But they do have a Thai telephone number, along with Hong Kong and Chinese phone numbers registered on WhatsApp.
The scam is cunning in that there are no physical addresses, no bank accounts, no real names tied to the entire operation. It's all a front with fake dating profiles, fraudulent trading platforms, and crypto wallets.
After a great deal of inner turmoil and debate with the situation, the victim comes to a decision later on in the scam to attempt to pay the taxes that are being asked from him so that he can gain access to his funds.
2021-01-02, 11:22 a.m. - Victim: Who do I pay taxes to?
2021-01-02, 11:29 a.m. - BMETF Welfare Coordinator : Hello, you currently need to pay taxes to the Thai National Revenue Service
And further on the welfare coordinator gives options to settle the tax that's being requested from the mark.
2021-01-06, 6:27 p.m. - BMETF Welfare Coordinator : Hello, it means to transfer tax directly through digital currency, thank you.
2021-01-06, 6:28 p.m. - Victim: I prefer to wire direct to tax department and wait for them to provide confirmation. What account number should I supply them?
2021-01-06, 6:30 p.m. - BMETF Welfare Coordinator : The method of paying personal income tax is the same as the deposit method
2021-01-06, 6:56 p.m. - BMETF Welfare Coordinator : Hello, you need to pay taxes within 4 days.
2021-01-06, 6:58 p.m. - Victim: What happens if I cannot pay for 5 days?
2021-01-06, 6:59 p.m. - BMETF Welfare Coordinator : The tax bureau will handle it directly, and you will bear all the consequences yourself.
2021-01-06, 7:03 p.m. - Victim: Sure
2021-01-08, 1:00 p.m. - Victim: I want to pay the taxes with cash. Whom do I send it to? You or tax department?
2021-01-08, 1:18 p.m. - BMETF Welfare Coordinator : Hello, you can use Bitcoin ATM
2021-01-08, 1:24 p.m. - Victim: I do not have one near me. Who do I wire the cash to?
2021-01-08, 1:26 p.m. - BMETF Welfare Coordinator : Hello, what Bitcoin exchange are you using, you need to transfer to the Bitcoin exchange.
2021-01-08, 1:30 p.m. - Victim: I have no exchange. I want to pay with USD or Thailand currency
2021-01-08, 1:32 p.m. - BMETF Welfare Coordinator : Hello, you can open Google Maps to view nearby Bitcoin ATMs,
2021-01-08, 1:33 p.m. - Victim: There are none near me.
2021-01-08, 1:51 p.m. - BMETF Welfare Coordinator : You can download this software to find more Bitcoin ATMs.
2021-01-08, 1:52 p.m. - Victim: I want to pay in real currency
2021-01-08, 1:53 p.m. - BMETF Welfare Coordinator : Yes, you can pay directly in cash.
The cash option is given as a convenience — but, of course, by using a bitcoin ATM.
At this point, the victim was fully aware that this was a scam and was trying to get the welfare coordinator to provide any concrete identifying information about their operation that could be used to track them down.
Even when the mark offered cash, the advice still stayed the same: use bitcoin to transfer the funds, then you can make the withdrawal.
I'll go out on a limb and predict the following.
As cryptocurrency gains legitimacy and more people become involved with the technology, scams will proliferate around it.
Romance cons like Jenny's are only the beginning. The scams will become more sophisticated as usage blooms in the retail market and more people gain access and familiarity with cryptocurrency.
The beautiful thing for scammers is that instant transfers of funds can be accomplished from one side of the globe to the other in relatively anonymous transactions.
Bitcoin wallets can be tracked down and identified but the regulations and identification requirements around traditional banking simply don't exist in crypto. This gives scammers an upper hand in evading authorities as investigations open up into operations like BMETF.
The truth is not always beautiful, nor beautiful words the truth.
信言不美，美言不信
Lao Tzu, Tao Te Ching, Chapter 81 第八十一章
It takes a brave person to come forward and admit they've been scammed.
The literature on scams is very clear on the impact that the experience of being scammed has on victims.
Difficult emotions like anger, disappointment and disgust come from the experience.
Victims will often turn these emotions inward, hiding them from friends and loved ones, due to shame and embarrassment. The victim must deal with the consequence of not only losing money, but also self-respect from their social circle.
In this way the chance that a victim will report the scam is reduced. Scammers can act with impunity longer because of people's shame and reluctance to take action, preferring to bury the experience in one's psyche instead.
Even while the scam is in its operational stage, before the mark wakes up fully and tries to back out of the engagement, there's a psychological regret effect that keeps a powerful grip on the mark.
The regret effect is mentioned in the scam literature in confessions and interviews with scam victims. They report that they continue on with the scam, even when red flags and warning signs are in full view, and their rational and logical mind and thinking processes have identified problems with the situation. The victims confess that if they didn't follow through until the end, then they'd never know if they were onto a good thing.
This is why the hook of a beautiful young woman, Jenny, is such a powerful motivator.
Even when 100 red flags go flying into the air, the mark — lonely, seeking companionship and love — clings onto the 1% chance that Jenny still might be real.
There's a great deal of mental gymnastics that the mark must run through to come to this conclusion, which I will put on display shortly.
The mark will do anything in their power to not let the hope of Jenny's companionship fall through his fingers.
After all, they stumbled onto this beautiful Hong Kong girl with luck — and even if they lose every last bit of money, it will be worth it if only they can have her.
2020-12-26, 10:38 a.m. - Victim: What do you know of Tao Te Ching? Have you read it? Do you follow it at all?
2020-12-26, 10:40 a.m. - Victim: I ask many questions because this is my goal for the rest of my life.
2020-12-26, 11:04 a.m. - Jenny: Tao Te Ching?
2020-12-26, 11:30 a.m. - Victim: No matter, it is just a recent interest of mine.
2020-12-26, 11:38 a.m. - Jenny: He is an amazing figure in Chinese history
2020-12-26, 11:39 a.m. - Victim: I see. Have you read any of his teachings?
2020-12-26, 11:53 a.m. - Jenny: Yes. Everyone who goes to school in China will learn from his works
2020-12-26, 11:57 a.m. - Victim: Interesting. His teachings can be challenging to live up to especially in these days & times of hyper-communication online. You would be amazed at the amount of frauds I have met online. Trust me these people do not understand the Tao
2020-12-26, 11:59 a.m. - Jenny: I think it is shameful to cheat
2020-12-26, 12:00 p.m. - Jenny: I hope we are always sincere
2020-12-26, 12:00 p.m. - Victim: 🤗😘 I really could love someone that believes so.
2020-12-26, 12:01 p.m. - Victim: As you learn of me you will find that I truly am a unique man than can only speak sincerely.
The 81st chapter of the Tao Te Ching starts with, "The truth is not always beautiful, nor beautiful words the truth (信言不美，美言不信)."
If something seems too good to be true, it usually is — maybe that's another way to put the words from the sage Lao Tzu.
The mark is a sincere man. His fatal error was placing his trust in the wrong person. he even admits that there are many scammers out there that he’s encountered online.
Sadly, this victim is not the only one who fell to Jenny's sweet words. I know of at least a dozen others, some who lost upwards of $400,000.
How did Jenny extract so much from them?
It starts with small commitments. Even building trust by allowing for small withdrawals along the way.
But she puts constant pressure on the mark to level up and commit at higher levels.
2020-12-26, 1:24 p.m. - Victim: I see Bitcoin has surpassed 33,000
2020-12-26, 1:25 p.m. - Victim: Will we be doing any trading today?
2020-12-26, 1:30 p.m. - Jenny: Yes, he is still rising.
2020-12-26, 1:30 p.m. - Jenny: I think this is the best trend right now. I am going to do a 300K event
2020-12-26, 1:31 p.m. - Jenny: So you can earn more
2020-12-26, 1:31 p.m. - Victim: 🙏🏻
2020-12-26, 1:31 p.m. - Jenny: Because you currently have no more funds. Otherwise I will ask you to enter the third room. So you can operate in the same room as me
2020-12-26, 1:32 p.m. - Jenny: Its odds are quite high. The returns are also very good
2020-12-26, 1:34 p.m. - Victim: Sorry, not sorry. It is what it is when you choose to know those that are not on the same financial level as you 🤷🏼♂️ I will do the best I can to participate with you.
2020-12-26, 1:34 p.m. - Jenny: But the third room needs at least 30K
2020-12-26, 1:35 p.m. - Victim: That I "may" not have for some time. Even pulling another 2k from revenues will be a hardship for a week or two.
2020-12-26, 1:35 p.m. - Victim: 🥰 Thank you my love
2020-12-26, 1:37 p.m. - Victim: Over time we can change this... I will continue to operate my [redacted] company and finish my house to sell.
2020-12-26, 1:38 p.m. - Victim: Spend time with your colleague and the good loving respect of 100% of your attention.
2020-12-26, 1:38 p.m. - Jenny: It’s okay, honey, I believe we can do better. So don’t worry
2020-12-26, 1:38 p.m. - Jenny: Thank you dear
2020-12-26, 1:38 p.m. - Victim: 🥰
2020-12-26, 1:39 p.m. - Victim: See you 😈 later my darling Jenny
2020-12-26, 1:39 p.m. - Jenny: see you later
2020-12-26, 1:39 p.m. - Jenny: 🥰
While the mark is struggling to come up with another $1,500 there's no time wasted in getting the big ask on the table: a $30,000 buy in to get to the third room where the rewards are richer.
The mark negotiates with this idea by saying, "I will continue to operate my company and finish my house to sell."
Jenny encourages the prospect and doesn't pressure them in making any quick decisions here. She's supportive of the mark's current financial situation. This builds more trust and a feeling of goodwill between the mark and the scammer. It plays into his idea that they have a real relationship developing based on care, mutual respect, and reciprocity.
2020-12-27, 6:50 p.m. - Victim: Jenny, how do I store my funds in an external software wallet until I can receive a hardware wallet?
2020-12-27, 7:07 p.m. - Jenny: Don't use these
2020-12-27, 7:07 p.m. - Jenny: My dear, because you booked an event, you can’t withdraw cash
2020-12-27, 7:08 p.m. - Jenny: After you complete the scheduled activity, you can make all withdrawals
2020-12-27, 7:14 p.m. - Victim: I have cancelled the event. I am going to need all available cash to complete the contract I received for the large home I have been offered a contract on for repairs.
2020-12-27, 7:29 p.m. - Jenny: Did you cancel the event?
2020-12-27, 7:29 p.m. - Jenny: But don’t you think it’s not worthwhile?
The event being discussed here has to do with commitments to the trading platform to engage in one of the rooms.
The commitment was arranged between the mark and the welfare coordinator for $5,000 USDT.
A curveball is thrown at Jenny: the mark needs the funds in order to finish a real-world obligation. Jenny's response? "But don't you think it's not worthwhile?" — a simple guilt trip to get the mark to question his decision, casting a shadow of doubt on his own rational mind.
The chat continues with more inflated promises of staying in the scheme, so that the mark can have his cake and eat it, too. Profit from BMETF's bonuses and finish the housing contract.
2020-12-27, 7:30 p.m. - Jenny: You can complete the activity and get a bonus and then trade with me to earn more funds and then use the money for the house maintenance contract
2020-12-27, 7:33 p.m. - Victim: The house renovation contract will start this coming week. This job keeps me viable for the next month.
2020-12-27, 7:36 p.m. - Victim: If throwing more money at this is the only way to profit then I am in the wrong game. In my studies of blockchain I am learning I must be extremely careful of unlisted exchanges as way too many turned out to be ponzi schemes or the exchange just folded with no notice. The momentum is too slow for me to gamble credit card money on.
This is a particularly difficult passage to read. These funds aren't just for fun, they're impacting the very livelihood of the mark. If he can't gain access to them, then his living situation will be threatened.
There's another element to scam psychology that pops up here that at first seems counter-intuitive.
A victim's background knowledge and overconfidence about a subject can make them more susceptible to scams that relate to that area of knowledge.
Again, this is very counter-intuitive but it's a psychological trait that is often observed in the scam literature and victim studies.
Perhaps it's the combination of having just enough background knowledge about a subject coupled with an overconfidence in believing that one's own conclusions and perceptions about that knowledge are correct.
Overconfidence in decision alternatives leads to errors and biases in decision making. The more knowledge that people have in a specific area, the more they feel capable there — they overestimate their abilities to make rational decisions.
When people have made a decision, they become more selective in finding information to support their decision, as opposed to finding information that would contradict it. This is referred to as confirmatory information search — and the more info people have for their preferred position, the more they are vulnerable to scams that fall into these areas.
They neglect inconsistent info, or warning signs, that would help others immediately see the situation as a scam.
In this case, the mark admits that they've come across information that would indicate the current situation is a scam, based on the inability to access and withdraw funds.
The mark is becoming almost aware enough to extract himself from the scam. In fact, he gets very close at this point.
2020-12-27, 7:42 p.m. - Jenny: Honey, you have started now. We should continue to do it
2020-12-27, 7:45 p.m. - Jenny: But it’s up to you. When I give you advice, I think it’s the best deal. Because there will be a big trend in the last few days, it’s easy to make money.
2020-12-27, 7:45 p.m. - Jenny: Profit will be higher
2020-12-27, 7:52 p.m. - Victim: If I cannot protect my own funds in a wallet I control then I will simply lose in the end. That is how I see it. Besides that we met on a relationship site not an investment site. I proved I can have an open mind and be a team player I did not realize putting my neck on a chopping block under a knife of urgency would be required.
2020-12-27, 7:53 p.m. - Victim: If my position in life is not worthy or is embarrassing to you in life then you are maybe better off with another.
2020-12-27, 7:54 p.m. - Jenny: I can understand what you mean, dear. I just treat you as my most important person. That’s why I suggest you do this
Jenny recognizes that the mark's onto the scam and is about to back out.
The only thing she can do is deflect the conversation away from the troubles with withdrawing funds and back to the emotional snares she used to get him hooked into this to begin with.
2020-12-27, 7:55 p.m. - Jenny: I think I am a more enlightened person. I like your gentlemanly demeanor and your mature style of doing things
2020-12-27, 7:56 p.m. - Jenny: I think so. You now only need 2000 to reach 5000 appointments. And you can get a reward of 388 dollars for completing it. And 5000 funds for mining transactions will get more income
2020-12-27, 7:59 p.m. - Victim: You also disappeared this morning that is a bit of a red flag considering you created a habit of greeting me each morning.
2020-12-27, 7:59 p.m. - Victim: 🥰
2020-12-27, 7:59 p.m. - Victim: Why thank you m'lady
The mark falls for the compliment.
It's clear at this point that he's aware there are problems with the BMETF platform, but he still trusts Jenny enough to be encouraged by her words.
The mark also notes that Jenny didn't send him the usual morning greeting. This is an element of the scam that was brought up earlier: consistency, especially in communication.
A relationship between the mark and Jenny has been established on certain consistent patterns of behavior: the good mornings, the emojis, the good nights.
Now that the mark feels insecure with the process of making a withdrawal, the absence of a morning greeting stands out to him as a red flag.
This sort of knowledge seems obvious on the surface, but can be incredibly dangerous in the wrong hands.
If a scammer is persistent enough, they will find willing participants.
If the scammer stays consistent with their communication style that's established with the mark, then fewer red flags will fly, and the scam can continue on.
What follows after this interaction is a great deal of regret from the mark, where he even shows his current bank balance (it's less than $20), along with a lot of back and forth with Jenny about how to meet the BMETF's requirements to get access to the funds.
According to Jenny and the welfare coordinator, the mark has to deposit another $2,000 USD in Tether coin, which will bring the total deposit to $5,000 USD made on the account — this does not include any gains made from the supposed trading activity on the platform that the mark and Jenny had engaged in.
Jenny insists over and over that she's used the BMETF platform for over 4 years and has never had a problem with a withdrawal, and keeps throwing out the line that the mark needs to follow through with making another deposit to gain access to his funds.
2020-12-28, 10:26 a.m. - Jenny: I have done it for 4 years. I know how this is right. That’s why I told you
2020-12-28, 10:32 a.m. - Victim: Where are these regulations posted?
2020-12-28, 10:49 a.m. - Jenny: Of course the platform
2020-12-28, 10:49 a.m. - Jenny: Honey, even if you don't believe in the platform, you can always trust me.
2020-12-28, 10:50 a.m. - Jetnny: I have been doing it for 4 years. I can’t even know this
2020-12-28, 10:54 a.m. - Jenny: I have invested in this platform for 4 years. So I understand the operation. As long as you listen to me, I promise you can nah
2020-12-28, 10:57 a.m. - Victim: You have seen my bank account balance. I have made a terrible mistake in getting involved in this. I am not borrowing more money to lose on a platform that is not honest & transparent.
2020-12-28, 11:02 a.m. - Jenny: I saw.
2020-12-28, 11:03 a.m. - Jenny: But you have cash. You can complete the activity first. Then you can take out all the funds.
Jenny will stop at nothing to bleed another $2,000 from the mark — even when he has less than $20 in his bank account and must resort to borrowing the rest from a friend.
The logic hurts to read, but when one's funds are trapped in the platform, then the tendency to throw good money after bad takes over — a motivation that's tied back to the psychological motivations of consistency and commitment, along with the sunk cost effect.
Over the next two days in the chat log the mark threatens to go to the police. Jenny advises that he can, but it will only hurt him in the long run since he's invested so little up until this point and the cost of taking this to court would outweigh his losses.
2020-12-28, 11:27 a.m. - Victim: You need to show me these rules. This could get very bad. There could be international consequences were I to go to the national police force in Canada.
2020-12-28, 11:28 a.m. - Victim: They can keep their rewards that is the ponzi scheme that is not legal in Canada.
2020-12-28, 11:28 a.m. - Jenny: You can do this completely. You can contact the police. Let the police resolve the matter.
2020-12-28, 11:29 a.m. - Jenny: If you don't believe me, then you can do
2020-12-28, 11:29 a.m. - Jenny: But I believe you will be the last to suffer
Later on, the mark threatens getting his government and the courts involved.
The threat is met with confidence that it would end poorly for the mark, but Jenny encourages it anyway — in the end, she says, it will only show that she's been right the whole time.
2020-12-28, 6:57 p.m. - Victim: I am confident my federal government & courts will consider this application and its practices illegal and s part of organized crime.
2020-12-28, 6:58 p.m. - Victim: Not to my satisfaction. A customer service "chat" is no replacement for rules stated clearly & transparently.
2020-12-28, 6:58 p.m. - Jenny: Think about it for yourself. This mining machine is formal. And there must be financial support behind it. Do you think you can do anything to him?
2020-12-28, 6:59 p.m. - Jenny: I don't mind if you sue him
2020-12-28, 6:59 p.m. - Victim: Cost him 1000 times what was stolen to start with.
2020-12-28, 6:59 p.m. - Jenny: Darling, i want you to sue him. This way I will let you know that what I said is completely correct
Besides, Jenny argues later on, if only the mark ponies up another $2,000 the whole issue can be resolved.
At various points in the conversation he dismisses Jenny altogether, telling her to go away and threatens to block her.
The mark then turns the tables on Jenny and asks that she funds the gap in the account so that he can make the needed withdrawal.
Jenny's excuse for not being able to do that? Her account's international and owned by a company, it's not actually hers.
It's also at this stage where the mark repeatedly says that his life is in danger due to the lack of funds.
Jenny lends a sympathetic ear, but stays consistent in her advice: the mark should trust her, and deposit the rest of the money.
2020-12-29, 2:43 p.m. - Victim: I am only attached to living in a time of super low funds. If this falls through we have just put a noose around my neck.
2020-12-29, 2:44 p.m. - Jenny: I want you to be rich in your life
2020-12-29, 2:45 p.m. - Victim: I want only to be happy and not dead.
2020-12-29, 2:47 p.m. - Jenny: No one does not want to be happy
2020-12-29, 3:03 p.m. - Victim: That is not true. Many people wish bad things for themselves because they do not feel worthy. Many others feel so worthy that they ignore or dismiss the carnage they sow upon others lives.
2020-12-29, 3:04 p.m. - Jenny: That's an abnormal person
2020-12-29, 3:08 p.m. - Victim: I defined two types. They are common types.
By this point in the chat log, it seems like the mark is just about done with the whole thing. As I read through the chat the first time, I was just about sure that he'd abandon ship right about now.
But I severely underestimated Jenny's ability to dig her talons into the flesh of this man's psyche and not let her prey go for anything.
In a twist that surprised even me, the mark does a 180 on everything he said the past two days of the chat.
2020-12-29, 5:58 p.m. - Victim: I was able to borrow the funds needed. I funded netcoins.ca then bought usdt
2020-12-29, 6:43 p.m. - Jenny: Have you bought it yet?
2020-12-29, 6:43 p.m. - Victim: Yes
2020-12-29, 6:44 p.m. - Victim: Then I went to customer service and requested a wallet address.
2020-12-29, 6:45 p.m. - Jenny: Then you open netcoins. Give me the screenshot and I will teach you how to transfer
2020-12-29, 6:45 p.m. - Victim: It is already transferred. I am waiting on the welfare coordinator to confirm.
2020-12-29, 6:46 p.m. - Jenny: Ok
2020-12-29, 6:46 p.m. - Victim: What are you doing?
2020-12-29, 6:46 p.m. - Jenny: I just came back for dinner
2020-12-29, 6:47 p.m. - Jenny: Have you had dinner yet?
2020-12-29, 6:47 p.m. - Victim: Pizza or salad 🤷🏼♂️
2020-12-29, 6:47 p.m. - Victim: 😂
2020-12-29, 6:47 p.m. - Jenny: Only fruit
2020-12-29, 6:48 p.m. - Victim: What kinds of fruit do you enjoy most?
2020-12-29, 6:50 p.m. - Jenny: I can eat all fruits. But I often eat apples and grapefruit
2020-12-29, 6:51 p.m. - Victim: Lol, we would get along well because I rarely eat fresh apples of grapefruit 😏
2020-12-29, 6:51 p.m. - Jenny: 🤨
2020-12-29, 6:51 p.m. - Victim: 😂
He got the money! And he's going to transfer it using Tether coin.
Jenny scores again.
And thus the conversation turns to the mundane again, back to the familiar stuff that gave the mark positive feelings to begin with: the day to day relationship banter, which is what he wanted to begin with.
The two are back to talking about dinner and their favorite fruits.
What can explain this behavior?
In the span of only 3 hours the mark went from suspecting Jenny and the BMETF platform of fraud to borrowing the funds that they told him he'd need to make a withdrawal.
There are two heavy psychological motivations here at play.
The first is the regret effect. The mark is holding onto a slim chance of hope that Jenny can be trusted, that she is real and profits from BMETF, and further and by extension, that BMETF will allow him to make a withdrawal if he tops up his account. If he doesn't take the chance now, the whole situation would be for naught.
The second, and perhaps more powerful psychological motivation, is the phantom fixation and mood regulation phenomenon. The mark has built up a future where he's rewarded both with the beautiful Hong Kong woman and financial freedom.
He still wants that. He craves it. He'll do anything to keep it, even going against everything his logical brain is telling him that's wrong with the situation.
If he quits now, he'd have to walk away with a deadly sting to his ego, self-esteem, and wallet.
So the mark calls their hand — he gets the money, borrows it from a friend.
There's only one way to know about all this for sure, right?
That's right. And within the hour, he has his answer.
2020-12-29, 7:19 p.m. - Victim: I still cannot withdraw all of my funds.
2020-12-29, 7:27 p.m. - Jenny: why?
2020-12-29, 7:27 p.m. - Jenny: How much money did you deposit?
2020-12-29, 7:27 p.m. - Victim: Who knows.
2020-12-29, 7:28 p.m. - Victim: Just over 1500 usdt
2020-12-29, 7:28 p.m. - Jenny: You need to deposit 2000usd
2020-12-29, 7:28 p.m. - Jenny: Because you could only deposit 3000usd before
2020-12-29, 7:29 p.m. - Victim: I am over 5000 right now
What follows this is another long, drawn out back and forth exchange between Jenny and the mark over the details of the deposits.
The mark got the account over $5,000 — but he was also accounting for gains and bonuses made on the account, not pure deposits.
And thus the mark needs to come up with another $500 to get access to his funds.
Is there any hope left for the mark? I'll let you decide.
2020-12-29, 7:44 p.m. - Jenny: Don’t you have 500 dollars?
2020-12-29, 7:44 p.m. - Victim: Nope, I am also now homeless in two days as I put my rent into there too.
2020-12-29, 7:46 p.m. - Jenny: But only after you complete the activity can you release the funds
2020-12-29, 7:49 p.m. - Victim: Yes I understand now. I should just kill myself for being so foolish as to get involved in this.
2020-12-29, 7:52 p.m. - Jenny: Can you borrow $500 from a friend first?
2020-12-29, 7:53 p.m. - Victim: I am maxxed out everywhere.
2020-12-29, 7:54 p.m. - Jenny: But it’s only $500
2020-12-29, 7:55 p.m. - Jenny: I want to take you to make a profit, and then you think of a way
You tell me where the hope is.
I don't see it.
There's $20 left in his bank account. His credit cards are maxed out. And the mark's even hit up his friends to get $1,500 — a sum that fell $500 short from what he needed.
The mark's Hail Mary is lobbed up high, and finds no welcome arms — it hits the ground with a thud — if you can excuse a metaphor from American football.
But what's this? A glimmer in the chat log. It keeps me reading, and it keeps me writing this story.
Read on for yourself to see whence redemption comes:
2020-12-29, 8:55 p.m. - Victim: Good night Jenny. I may not be available in the morning or tomorrow.
2020-12-29, 9:03 p.m. - Jenny: This needs to call the bank
2020-12-29, 9:03 p.m. - Jenny: Honey, i just went to take a shower
2020-12-29, 9:03 p.m. - Jenny: Don't worry too much
2020-12-29, 9:03 p.m. - Jenny: Will you be busy
2020-12-29, 9:04 p.m. - Jenny: Are you sleeping now?
2020-12-29, 9:04 p.m. - Victim: No
2020-12-29, 9:04 p.m. - Victim: Not yet
2020-12-29, 9:05 p.m. - Jenny: Then you open BMETF and I will take you to profit
2020-12-29, 9:06 p.m. - Victim: Are you sure?
2020-12-29, 9:07 p.m. - Jenny: Yes
2020-12-29, 9:07 p.m. - Victim: Okay
2020-12-29, 9:12 p.m. - Jenny: Your current fund is 4500. We start planning from 50 150 450 1350
2020-12-29, 9:13 p.m. - Victim: Ok
2020-12-29, 9:14 p.m. - Jenny: Buy bull 50
2020-12-29, 9:14 p.m. - Victim: Done
2020-12-29, 9:15 p.m. - Victim: Success
2020-12-29, 9:16 p.m. - Victim: Continue?
2020-12-29, 9:16 p.m. - Jenny: Buy bull 50
2020-12-29, 9:16 p.m. - Victim: Done
2020-12-29, 9:19 p.m. - Victim: You AMAZE me woman
2020-12-29, 9:21 p.m. - Jenny: 公牛50☺️
2020-12-29, 9:21 p.m. - Victim: ?
2020-12-29, 9:21 p.m. - Jenny: Hee hee is correct
2020-12-29, 9:22 p.m. - Jenny: I told you it was correct
2020-12-29, 9:22 p.m. - Victim: 🤣🥰
Jenny drops a little clue as to her background — 公牛 50, she says. "Bull 50."
Maybe she's some fat, hairy 57 year old dude in Romania who uses Google translate to turn his Romanian to English, and thought it'd be funny to throw in a little Mandarin at this moment to smooth out any rough edges in the mark's perception.
Or, more likely, it's really a young Chinese woman on the other end of the line who's part of a criminal network of scammers that have stolen hundreds of thousands of dollars from dozens of victims — at the very minimum, for only so many have come forward: we are anticipating many more once this story spreads.
It is true that there are brief moments when the mark and Jenny got on voice chat together and he was able to hear her voice. It was good enough to pass the mark's sniff test, by all accounts he believed it was a young Chinese woman on the other end of the line.
And it's really the only clue we have about Jenny. Her photos were likely fake. Her background story, being a cosmetics vendor — fake. Her claim of having hundreds of thousands of dollars tied up in the platform — fake, well, if we're not counting the money from guys she scammed.
The only person that could give the mark hope was Jenny, and she delivered at the exact right moment.
I actually respect the scammer's empathy and talent here to choose the exact right moment to push the mark back into trading with her for supposed profits with the funds that he still has tied up into the platform.
The offer accomplishes two things: one, it gets the mark back into Jenny's psychological snare, so that she can start the process of manipulation over again; two, it lets out some steam from the financial pressure valve that's nearly exploded for the mark.
He just about called it quits — not just on the scam, but on life itself.
And right on cue, Jenny's there to pick him up and take him to trade.
The two continue on for a few hours trading the account.
The mark even gets bold enough to ask:
2020-12-29, 9:48 p.m. - Victim: Do you trade while in bed at evenings?
2020-12-29, 9:49 p.m. - Jenny: I usually do it in my spare time
2020-12-29, 9:50 p.m. - Victim: I was just wondering if I had your sexy ass in bed, yet 😈
This is all well and good.
The mark is playing with money he's got on the platform already.
But for the past two days he's been on a mission to make a withdrawal. Was that mission fully aborted?
The chat picks up the next morning. Let's take a look.
2020-12-30, 9:07 a.m. - Jenny: Good morning dear
2020-12-30, 9:07 a.m. - Victim: Good morning my lovely Jenny
2020-12-30, 9:08 a.m. - Victim: Did you sleep well? Have nice dreams?
2020-12-30, 9:13 a.m. - Jenny: I slept well. How about you
2020-12-30, 9:13 a.m. - Victim: I slept well. I am feeling much better today.
2020-12-30, 9:14 a.m. - Victim: What is your plan for today?
2020-12-30, 9:14 a.m. - Jenny: I have a rest today. Go shopping in the afternoon
2020-12-30, 9:14 a.m. - Jenny: How about you
2020-12-30, 9:15 a.m. - Victim: I will be hunting for money to pay off this activity thing
In the span of a day the mark went from wanting to go to his federal government, making a fuss with the courts and cops, to hunting for more money to put into the platform.
He needs another $500 to get to the minimum $5,000 that BMETF claims they need to be able to release his funds. Just the day before the mark knew that this wasn't logical — when is it ever the case you need to deposit more money somewhere to take out what's already there?
But it's not time to underestimate the sway that Jenny has over the mark. Remember, she doesn't care about $500. She wants a big score. And she'll do anything she can to get it — even if it means her victim's demise at his own hand.
Pay close attention to the chat quote that follows. It shows the absolute stranglehold that Jenny has on her mark's well-being and decision making abilities.
2020-12-30, 9:18 a.m. - Victim: I would very much like to learn all I can about predicting trends in Crypto
2020-12-30, 9:19 a.m. - Victim: I am now in agreement that I need to own a portion of actual bitcoin that will be my goal this coming year.
2020-12-30, 9:20 a.m. - Jenny: Ok
2020-12-30, 9:21 a.m. - Jenny: That's because your funds are too small, so the income is very small. You can earn 500 to 600 with 5000 funds. If you have 10K of funds, you will earn 1000 to 2000 in a few months.
2020-12-30, 9:22 a.m. - Victim: I understand.
2020-12-30, 9:23 a.m. - Jenny: But you don't have enough funds
2020-12-30, 9:24 a.m. - Victim: I will think about unloading my house as it is a liability anyway.
2020-12-30, 9:25 a.m. - Victim: Yes, you do often repeat this 😂 I will try harder to hold funds for investment.
2020-12-30, 9:25 a.m. - Jenny: Sell the house? But this cycle is very long, isn't it?
2020-12-30, 9:27 a.m. - Victim: Not if the house is cheap and the owner is motivated. It has been costing too much to just sit anyway. It has been a drain on my funds for too long.
The mark is ready to unload his house for this scam.
How much would that be? A couple hundred thousand dollars at a minimum?
Is he serious here?
You decide.
2020-12-30, 9:29 a.m. - Jenny: I think you can use the house to go to the bank for a loan. Then you can make money and then return the money to the bank. Then sell the house
2020-12-30, 9:31 a.m. - Jenny: I wonder if you have heard the story of borrowing chickens to lay eggs? You can go to a friend to borrow a chicken that can't lay eggs. We bring them to lay eggs. The eggs regenerate chickens, and the chicken regenerates eggs. Give the chicken back to your friend and give your friend an egg
2020-12-30, 9:32 a.m. - Victim: I think I have let my credit cards creep too high for a bank loan. It would be a hit on my credit.
2020-12-30, 9:33 a.m. - Jenny: Can't you use a house loan?
2020-12-30, 9:33 a.m. - Victim: I do not want the house at this time it has been a problem since it was first bought. I bought it in a partnership then ended up needing to buy the partner out.
2020-12-30, 9:35 a.m. - Jenny: Then it takes a long time for you to sell the house to get the funds.
2020-12-30, 9:36 a.m. - Victim: I do own it outright though it is not valued high. I will look at leveraging it for a loan.
2020-12-30, 9:36 a.m. - Victim: Every dollar helps, yes?
2020-12-30, 9:37 a.m. - Jenny: You can take the bank and use your house as a mortgage
2020-12-30, 9:38 a.m. - Jenny: I think if you have enough funds then you should have an anniversary celebration
2020-12-30, 9:38 a.m. - Jenny: This is just my suggestion
Jenny encourages the mark with his train of thought.
What strikes me about this exchange is Jenny wasn't the first one to put forward the idea of selling the house — the mark did.
Jenny's a cunning scammer, and listens well for these cues. This one is glaring — and she latches on with everything she has.
2020-12-30, 9:59 a.m. - Victim: 7 or 8 years ago I was disillusioned and homeless. I have spent the time since improving both my living situation and my personal thinking processes....Meeting you and your teaching me is a miracle in my mind. Thank you so very much for stooping down to my income level to teach me and provide hope of a better future.
2020-12-30, 10:01 a.m. - Jenny: You try
2020-12-30, 10:02 a.m. - Jenny: We need more funds to make greater profits
2020-12-30, 10:02 a.m. - Victim: I understand.
2020-12-30, 10:03 a.m. - Victim: I will look into selling the assets of my photography company too.
2020-12-30, 10:08 a.m. - Jenny: How long does this take
2020-12-30, 10:08 a.m. - Victim: Too long for you 😂
2020-12-30, 10:09 a.m. - Jenny: Yes, because good trends do not always exist. So I will choose to grasp the current market
Everything's up for sale: the house, the photography business.
Jenny wants it done now — or at the very least, she's asking for a date from the mark when it can be done.
This would put the mark at another stage in the commitment process. He agrees to a date, and Jenny will make him stick to that.
This plays on the psychological motivation for consistency in one's actions and following through with one's promises. We like to think of ourselves as being consistent in our actions and words. If we agree to do something, then we should do it on the terms that we agreed to.
There's a higher chance that the scam succeeds with these micro-commitments at every stage. The whole conversation has been a series of commitments and re-commitments to various dynamics of the relationship.
When the financial pressure is on, the mark seeks validation from Jenny with the relationship that he's imagined exists between them.
Jenny plays along, knowing full well that the bones she tosses the mark will keep him going for as long as she wants.
2020-12-30, 10:13 a.m. - Jenny: That's why i always get wealth
2020-12-30, 10:13 a.m. - Jenny: Because the opportunity won't wait for anyone
2020-12-30, 10:14 a.m. - Victim: I agree
2020-12-30, 10:29 a.m. - Jenny: Yes so hurry up
2020-12-30, 10:30 a.m. - Victim: Are you in this much of a hurry when having sex in bed?
2020-12-30, 10:34 a.m. - Jenny: Haha guess
2020-12-30, 10:35 a.m. - Jenny: I just advise you. But it all depends on you and your financial situation
2020-12-30, 10:35 a.m. - Victim: Does not matter I would make you suffer, patiently 😈
2020-12-30, 10:37 a.m. - Victim: Which I have explained is not a good situation now thanks to the events of the last year. Still I will work smart and work hard.
2020-12-30, 10:45 a.m. - Jenny: It’s okay, take your time, it will always get better
2020-12-30, 10:46 a.m. - Victim: 🥰
2020-12-30, 10:46 a.m. - Victim: You really are an angel Jenny.
She's barely trying here.
There's no meat on these bones that she's tossed him, but the mark keeps chasing them.
Does this tactic pay off?
You bet it does.
2020-12-30, 12:35 p.m. - Victim: I have succeeded in borrowing the funds I needed.
2020-12-30, 12:37 p.m. - Jenny: OK. Then your deposit is successful, tell me. I will take you to the transaction
The mark went from total desperation, maxing out every available source of funds — from credit cards to borrowing against his friend's goodwill — and claiming defeat to finding the cash. It just takes a bit of encouragement from Jenny and the mark pulls through and finds the $500.
The two spend the next couple hours trading on the platform.
The mark gets curious and wonders what Jenny does with all her winnings.
2020-12-30, 2:38 p.m. - Victim: What do you do with your funds when you are not trading? External wallet?
2020-12-30, 2:38 p.m. - Jenny: No, I participated in the dividend benefits and I will not withdraw
2020-12-30, 2:38 p.m. - Victim: All your funds?
2020-12-30, 2:39 p.m. - Jenny: I participated in 200,000 dividends and benefits. I will get 20,000 dividends every month
2020-12-30, 2:39 p.m. - Victim: Is this not considered risky?
2020-12-30, 2:39 p.m. - Jenny: I will only withdraw funds when I need funds
2020-12-30, 2:39 p.m. - Victim: So 10 months to recoup the investment
2020-12-30, 2:40 p.m. - Jenny: Bull 50
2020-12-30, 2:40 p.m. - Jenny: Follow my rhythm
2020-12-30, 2:40 p.m. - Victim: Yes, m'am
2020-12-30, 2:40 p.m. - Jenny: Yes, it’s 20,000 a month. 10 months is 200,000 plus my own funds is 400,000
2020-12-30, 2:41 p.m. - Victim: You are amazing Jenny
2020-12-30, 2:42 p.m. - Jenny: This is a bargain
2020-12-30, 2:43 p.m. - Victim: 🥳
2020-12-30, 2:45 p.m. - Victim: And you are a blessing to me for introducing me to it
2020-12-30, 2:45 p.m. - Victim: And putting up with my shit along the way 🙏🏻
"Follow my rhythm", Jenny says when calling the trades. It's a dance that she's leading with the mark.
She knows that these excursions into the trading platform and making winning trades will give the mark the rush of dopamine hits he wants from her.
It doesn't matter how she answers his questions about her funds. It doesn't matter that her answers make little sense. He'd probably accept them just the same if she said she stored her money in coffee tin buried in her backyard.
Jenny leads the dance for the next hour as the mark follows her rhythm every step of the way.
An hour later, the mark's almost doubled the money in his BMETF account.
2020-12-30, 3:43 p.m. - Jenny: How much money do you have now?
2020-12-30, 3:44 p.m. - Victim: We have 10,515
2020-12-30, 3:45 p.m. - Jenny: Do you think you should make the next reservation?
2020-12-30, 3:45 p.m. - Victim: When we are together I am going to hug 🤗 you so tight!
2020-12-30, 3:45 p.m. - Victim: I would need to find more money?
2020-12-30, 3:46 p.m. - Jenny: Because the odds of each room are different, I think we should take advantage of the good trend, we should turn more.
2020-12-30, 3:46 p.m. - Jenny: The next room is 30k.
2020-12-30, 3:46 p.m. - Victim: I will need a gun
2020-12-30, 3:49 p.m. - Jenny: Haha why do you say that?
2020-12-30, 3:50 p.m. - Victim: That is the only way I would be able to find 25k usd
2020-12-30, 3:50 p.m. - Jenny: Honey, I think the next room is worth learning for you. So I think you should do it when the current trend is good
2020-12-30, 3:51 p.m. - Jenny: How much funding can you find?
Jenny, like the cunning snake that she is, sees an opportunity and strikes. She's relentless with her mark. She lifts him up, gives him the dopamine rushes of a successful run day trading on the BMETF platform, and then hits him with the next big ask.
Jenny wants him in the next room, which would be a commitment of another $25,000 deposit from the mark.
Even when the mark makes a sarcastic joke of needing a gun to find the next $25k, which seemingly doesn't land for Jenny — maybe it's her lack of English skills, or maybe she got the joke and just didn't care as her single-pointed focus was on the score.
2020-12-30, 4:20 p.m. - Victim: I will need to sort out where to get the 25k needed
2020-12-30, 4:21 p.m. - Jenny: Can you find 15K?
2020-12-30, 4:21 p.m. - Victim: Money or not I want to be with you Jenny. You are smart, savvy, patient and drop dead gorgeous.
2020-12-30, 4:22 p.m. - Victim: I may let me see if I can dump my house in a fire sale
2020-12-30, 4:22 p.m. - Jenny: Okay. I think the current trend is better. We should do it as soon as possible
2020-12-30, 4:23 p.m. - Victim: I will try
And there it is.
Jenny hasn't let the image of the for sale sign in front of the mark's house stray too far from her mind.
There's only one problem.
The mark still hasn't been able to make a withdrawal. It's the one thing that's holding him back from making any other deposits. He says so himself on several occasions, asking for patience from Jenny:
2020-12-30, 3:53 p.m. - Jenny: I can ask if my friend can lend me 10K to help you
2020-12-30, 3:55 p.m. - Victim: To be honest baby until I.could actually withdraw these funds to reuse another day I will be very wary.
2020-12-30, 3:56 p.m. - Victim: Fail
2020-12-30, 3:56 p.m. - Jenny: It depends on your own wishes
2020-12-30, 4:02 p.m. - Victim: Be patient. After I have tested the withdrawal process I will be more motivated to liquidate all I can.
At this point I begin to wonder — is it worth it for the scammer to allow for a withdrawal to take place?
If the scammers gave the mark his money back now, the full $5,000 — would he come back and deposit more?
It's unclear at this point.
Maybe he's playing the scammers at their own game. Offering up a future jackpot to the scammers in the hopes of securing his initial investment into the scheme.
It's certain that any money given back at this point wouldn't be out of the kindness of their hearts. The scammers are willing to push their marks to financial ruin, homelessness, despair, and even the worse option: suicide, if it means making another buck.
Jenny and the mark are at a precipice then: either the two continue on trading with the funny money in the BMETF platform, stacking wins that the mark can't enjoy; or the mark realizes that he'll never see a shiny penny withdrawn from his account on BMETF, and he walks away with a bruised ego and empty wallet.
There's a third option, of course: the mark comes back with the proceeds of his home's fire sale, ready to deposit and make it to the vaulted 3rd room.
Where do they go from here?
Sages do not accumulate. The more they assist others, the more they possess; The more they give to others, the more they gain
聖人不積 既以為人己愈有 既以與人己愈多
Lao Tzu, Tao Te Ching, Chapter 81 第八十一章
Those who give freely are known to be generous. But if you give and give to the wrong people, you're called a fool.
When is giving prudent? When is it foolish?
What's the dividing line where a gift becomes charity, or the act of giving means you've fallen prey to a scam?
It's intuitively clear to us. There's something that morally resonates in each of us that makes these distinctions very easy to point out and identify.
The act and how it's called later is conjured by the motive of the giver and the intentions of those who receive it.
What's unfortunate is that charity is home to many scams itself — a subject that will be explored in another full report from True Crime Thailand that we have planned for a later date.
Considering the present story, there's nothing charitable about what the mark has done. He has simply lost hard-earned money to scammers who likely operate an international crime ring that's sophisticated enough to employ multiple people in its ranks.
What these scammers do with the money they steal is anybody's guess.
Maybe they buy luxury goods, like expensive cosmetics and handbags.
Maybe they put their kids through the best schools with this money.
Maybe a bit of it gets donated to a local temple or a bum on the street.
Maybe the money even goes to pay for the cancer treatment of one of the scammer's sick mothers.
Would it matter what the scammers do with it?
In my opinion, it doesn't — the intention was crooked from conception, and these are ill-won gains.
The following two days play out like normal in the chat logs.
It may be coincidental, but around this time the mark also reports that the app is consuming more resources on his phone, is heating up the phone, and causing it to crash. Random technical glitches, or engineered to self-destruct once the mark catches on — your guess is as good as mine.
The two trade together, stacking their accounts, which the mark has now built up to $14,487.
Jenny and the mark talk about what they like to eat, the mark asks if Jenny's naked, Jenny goes out to dinner with her colleagues and gets tired talking about the project — what project is anybody's guess, but I'd reckon it's the tactic to ensnare her next victim — and everything's fine and dandy.
New Year's Eve passes, and then New Year's day. Jenny enjoys time out with friends, telling the mark "on this day, everybody was happy."
But there's a problem in paradise. The mark's realized that he still can't withdraw his funds.
He let's Jenny enjoy her New Year's celebrations, but by January 2nd, he starts pressing Jenny for answers.
2021-01-02, 9:38 a.m. - Victim:
This guy is scamming me.
2021-01-02, 9:50 a.m. - Jenny: Is this a tax payment situation?
2021-01-02, 9:55 a.m. - Victim: Yes, that seems to be the scam the coordinator is using. I suspect he wants money from me first which he already has in the form of my 5k.
2021-01-02, 9:59 a.m. - Jenny: Yes. No matter where you make money, you have to pay taxes.
2021-01-02, 10:02 a.m. - Victim: Yes, everywhere in the world the taxes are "withheld" from the withdrawal.
2021-01-02, 10:03 a.m. - Victim: No where is the coordinator pointing to whom to pay the taxes to. Who do you pay? How are you able to negotiate this?
2021-01-02, 10:04 a.m. - Victim: This is sad. I recently received an offer on my house. I am just about to sell it. I should stop the sale I guess.
What follows in the chat logs from here are several days of the mark and Jenny going back and forth about taxes and tax law: where taxes should be paid, when they should be paid, how they should be paid, and to who.
It's in these conversations where the mark recoils from the scheme.
He's realized that there's no way to get his money out even after he met the demands for having a minimum balance, which he achieved by borrowing an additional $2000 from friends, scrounging up every last buck that he could.
Now the BMETF welfare coordinator wants taxes to be paid before a withdrawal is made.
It makes no sense to me or to you, and it makes no sense for the mark — he's finally coming to his senses.
2021-01-02, 3:29 p.m. - Victim: They will not pay my taxes that is what the Thailand chat line is saying. Thailand says this is a scam.
2021-01-02, 3:29 p.m. - Jenny: lol impossible
2021-01-02, 3:30 p.m. - Jenny: Will the Thai tax bureau say that it is a scam?
2021-01-02, 3:30 p.m. - Victim: Yes, I too thought they were closed
2021-01-02, 3:30 p.m. - Jenny: 😂😂😂
2021-01-02, 3:30 p.m. - Jenny: Do you think the Thai tax office is a fool? Does it call itself a scam?
2021-01-02, 3:33 p.m. - Victim: Sure, I know nothing. Soon I will be at the Hong Kong complaints division too.
2021-01-02, 3:37 p.m. - Victim: It calls the platform and you a scam.
2021-01-02, 3:40 p.m. - Victim: I am also working my way through Dubai government because they kill people that drag their name in the dirt like the welfare coordinator has don't on multiple occasions.
2021-01-02, 3:44 p.m. - Victim: I will contact every country involved. Next I will prepare press release, to social media, for upon my death. Lastly I will create a very public video of my death and the reason why to gain sympathy of the world's people. We will see how it all works out soon. Of course you could avoid the heat and just return my funds and I will go on my way.
2021-01-02, 4:05 p.m. - Jenny: Are you so persistent, dear? do you know? You are slanderous
2021-01-02, 4:06 p.m. - Jenny: You will pay
2021-01-02, 4:06 p.m. - Victim: Lol
2021-01-02, 4:06 p.m. - Jenny: If the platform can prove that it is regular, you will be charged with defamation
2021-01-02, 4:07 p.m. - Victim: Lol
2021-01-02, 4:07 p.m. - Jenny: If you think about such a big platform, it must be supported by a consortium.
2021-01-02, 4:07 p.m. - Victim: 😂
2021-01-02, 4:07 p.m. - Jenny: But I won’t stop you from doing this. Because I respect you. I’m just a kind reminder
2021-01-02, 4:08 p.m. - Jenny: I'm going to eat
Jenny keeps up appearances through to the bitter end.
What follows from here is four whole days of going back and forth about the tax issue.
It's what woke the mark up to this being a full on scam. There was enough objective reference material out there that he could latch onto and use to fight back against Jenny's ploys to get him back into the scheme.
There's no point in the chat transcript where she gives herself up and admits the truth to anything.
She keeps up appearances the entire time.
Until the very end she insists that she has been using the platform for 4 years, that she pays taxes first before making withdrawals, and that all of this is normal. If only the mark could trust and believe her, he'd realize all of this to be true, too — and the two of them could continue on stacking profits in the BMETF account.
It would be tedious to quote from the last 10 pages of the chat logs.
The scheme falls apart as the mark realizes what's happened.
It was on January 2nd, 2021, that the victim from this story contacted True Crime Thailand to share the details of this scam.
In the end, he finally gives up Jenny and BMETF.
2021-01-07, 3:20 p.m. - Victim: It is what it is. I am not risking anymore. If I cannot pay the tax department then I will not participate.
2021-01-07, 3:37 p.m. - Jenny: But you will lose 14,400. Will you?
2021-01-07, 3:38 p.m. - Victim: I would only lose the 5k I originally lost to this scam platform.
2021-01-07, 4:09 p.m. - Jenny: scam? OMG
2021-01-07, 4:10 p.m. - Victim: We will know within days. Legitimate businesses have publicized rules.
2021-01-07, 4:28 p.m. - Jenny: lol I hope the tax bureau can reply to your message as soon as possible. This can prove that I am right
2021-01-07, 4:30 p.m. - Victim: I too very much hope for this!
2021-01-07, 4:31 p.m. - Jenny: l OK
I reviewed all of the details over the past month and a half and chose to write this story so that others may know the truth about BMETF and Jenny.
Let me be clear: there may be 1,000 other Jenny's out there trolling the dating sites for their next mark.
You might meet her. She could be everything that you ever dreamed of — especially in these lonely, dark times of isolation and despair.
Go ahead, chat with her. Don't hold back — she might be the one.
But if she asks you to pull out your wallet — either filled with fiat or crypto-currency — and no matter the cause, block her immediately.
Romance scams at their fundamental core operate in the same way, exploiting the psychological needs of the mark as described in the previous pages of this story.
As to BMETF and the damage they've done?
There's a group set up by the victim with about a dozen others who fell prey to Jenny and BMETF.
BMETF has rebranded itself as UBM.
So be on the look out for UBM and their antics on the internet as well.
Forums and social media posts that talk about BMETF's scam are hit with sock puppet accounts set up by the scammers to try to discredit the victim's stories. It's a sad display since the sock puppets use the same poor Google translate English as Jenny does.
As it stands, very little exists on the Internet about BMETF or UBM — and it’s this way by design. They don’t want a prolific presence, they want to stay in the shadows. Domain names that they’ve operated under are swapped out and made inactive on a regular basis so it’s difficult to track them down.
If you or anybody you know have also been a victim to Jenny, BMETF, or a similar scheme, feel free to reach out to True Crime Thailand at truecrimethailand@gmail.com
Your communication will stay confidential if you wish.
In the end, there is no shame when you admit that you've been a victim to a scam.
It's important that you communicate with people that you can trust in the matter and get help immediately once you feel like you've been targeted or made choices to get involved with a scam.
There’s no great ending to this story. The scammer is still out there likely stealing from somebody as we speak. This story was written with the intent to educate others about this scam that is happening now and is costing real people their pride and hard-earned money.
This is the first of several original reports that True Crime Thailand is putting out both about scams. Stay tuned for the next episode.
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