Korean Man Swindled of 100 Million Won By Japanese Bride

A Korean man thought he had met the right girl from a dating app, but that turned out to be far from the truth.

The victim, who was in his 50s, first met a Japanese girl, through a dating app. For the next 46 days, they continued conversing with one another, leading the man to believe that their relationship was real.

Convinced that he could plan a future together, the woman persuaded him to invest in a cryptocurrency exchange she recommended, claiming the funds were needed to prepare for their marriage.

While skeptical at first because of his lack of knowledge in digital assets, the man still gave in to the girl's requests due to his fear of losing her affection.

He started his investment with just 200,000 won. Very quickily, he appeared to have gained profits and was able to withdraw his proceeds.

As his confidence grew, he started to put in more money. Over the next weeks, his investment ballooned to more than 105 million won.

It was also at this time when the woman started demanding for further payments, insisting that his profits were subjected to a steep 5% daily tax.

When he finally told her that he could no longer meet her escalating demands, she cut off contact and vanished. In the end, the man lost a total of 100 million won .

Authorities Respond to Rising Crypto Romance Scams

Korean authorities have noted that this type of scam is becoming increasingly common, with fraudsters posing as potential spouses to lure victims into fraudulent crypto exchanges.

The Financial Supervisory Service (FSS) has warned that victims often hesitate to question financial requests from someone they believe is a romantic partner.

Scammers typically pose as foreigners interested in marriage, send links to unregistered or fake exchanges, and pressure victims into sending money.

Officials remind the public that all virtual asset exchanges must be registered with the Korea Financial Intelligence Unit to operate legally in Korea.

Many unregistered platforms are scams designed to steal deposits, and authorities urge caution with any investment opportunity introduced through dating apps or social media.

The FSS plans to intensify efforts against crypto-related romance scams, including launching a nationwide campaign in the second half of the year to raise awareness and reduce the number of victims.

Crypto Scams on the Rise in 2025

This incident comes amid a broader surge in crypto-related crime.

According to CertiK’s latest security report, crypto investors lost over $2.2 billion to hacks, scams, and breaches in the first half of 2025 alone.

Wallet breaches accounted for $1.7 billion in losses, while phishing scams caused over $410 million in damages.

Two major incidents—Bybit’s $1.5 billion hack and Cetus Protocol’s $225 million exploit—contributed significantly to the year’s total losses.

Ethereum remained the primary target, suffering over $1.6 billion in losses across 175 events.

The CertiK report also highlights the rising sophistication of phishing schemes and ongoing risks from social engineering.

Crypto users are strongly urged to verify links, avoid suspicious sites, and use hardware wallets for added security.