Over 1000 “Crypto Victims” Of Human Trafficking Rescued

Key Points:

• Philippine police have rescued more than 1,090 victims of human trafficking who were forced to work up to 18 hours a day for cryptocurrency scams.
• The victims, mainly from across Asia, were lured by social media posts promising high-paying jobs.
• The scam targets gullible individuals in the US, Europe, and Canada.

In a May 4 operation, the Philippine National Police (PNP) rescued over 1,090 human trafficking victims who were forced to labor up to 18 hours a day for cryptocurrency fraud, according to a Philstar report.

The victims, mostly from Asia, including Vietnam (389), China (307), the Philippines (171), and Indonesia (143), were enticed by social media ads offering high-paying employment.

The PNP also apprehended at least 12 accused ringleaders who are thought to be the owners of the Colorful and Leap Group Co., which is suspected of engaging in fraudulent operations. They were exposed to a human trafficking inquest hearing before the Department of Justice in Manila. There were seven Chinese nationalities, four Indonesians, and one Malaysian among them.

International concern has developed in recent months about online frauds in the area, which are often staffed by trafficking victims who have been duped or pushed into pushing phony cryptocurrency investments.

PNP anti-cybercrime group (ACG) spokesman Michelle Sabino said that they gladly accepted the assignment after being given free flights and lodging. But, upon landing in the nation, the employees’ passports were stolen, and they were forced to labor up to 18 hours a day, with wage reductions for mingling with coworkers or taking lengthy breaks. She went on to say that the victims were compelled to target innocent individuals in the United States, Europe, and Canada.

“You’re like a prisoner without a cell. You’re not even allowed to talk to your roommates. They’re not allowed to leave outside the bounds of the gate. After 18 hours of work, they’re brought to their dormitory.”

Problems related to kidnapping, extortion, and money laundering related to cryptocurrencies are on the rise. Raises every concern about the introduction of laws to control crypto. Recently, a case of kidnapping for ransom in Spain also involved a case of a manager of a crypto company.

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Harold

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