Marketed as AI-powered smart copy-trading delivering a steady 20% monthly return, it is in reality nothing more than a web page where figures can be altered at will.
The victim was invited into an "AI Quant Trading Group," where members posted return screenshots every day. The administrator recommended an "AI Copy-Trading System," claiming it was developed by a Wall Street team and would trade automatically once API access was granted.
Following instructions, the victim opened an account on a so-called "partner exchange" and deposited approximately SGD 2 million. The system showed consistent daily profits — yet when the victim requested a withdrawal, they were told the "copy-trading contract had not matured" and that early exit required paying a 30% penalty.
How the Scheme Works
1. Every member of the group except the victim was an alternate account operated by the scammers.
2. The so-called exchange was a replica site; price charts and trading volumes were entirely fabricated.
3. Terms such as "contract" and "locked-in period" are used to create barriers to withdrawing funds.
⚠️ WARNING
Any quant software that asks you to transfer funds to a "partner platform" cannot be trusted. Legitimate quantitative firms never raise capital from individual investors, nor do they require withdrawal permission from your exchange API.
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来源：Compiled Cases
