Japanese Woman Loses ¥194.8 Million in Romance-Linked Crypto Investment Scam

A woman in her 60s has lost nearly ¥194.8 million in one of the largest investment fraud cases reported this year in Japan's Toyama Prefecture, after scammers combined a romance scam with a fraudulent cryptocurrency investment scheme.

According to Toyama-Chuo Police, the fraud took place between June 2025 and February 2026. The victim was initially contacted through Facebook by an individual posing as a man before the conversations moved to the messaging app LINE, where the suspect gradually established a personal relationship.

After gaining the victim's trust, the scammer introduced what was presented as a profitable gold trading investment conducted through cryptocurrency. An initial investment appeared to generate returns on a fake trading platform, encouraging the victim to commit larger amounts.

Police said the victim subsequently transferred approximately ¥48.7 million in cryptocurrency through seven transactions to wallets controlled by the fraudsters. When she later attempted to withdraw her reported profits, she was told she first needed to pay taxes on her investment gains. Believing the explanation, she made three additional bank transfers totalling more than ¥145 million.

The scheme was uncovered only after a financial institution flagged the unusually large transfers and contacted the victim. Following discussions with family members, she reported the case to police.

Authorities said the ¥194.8 million loss is the second-largest fraud case recorded in Toyama Prefecture this year. The case reflects the continued evolution of romance-investment scams, where fraudsters spend weeks or months building trust before directing victims to fraudulent cryptocurrency or investment platforms and demanding additional payments under the guise of taxes, fees or withdrawal charges.