Recently, Mr. Chen from Jiaxing, Zhejiang, sought help from the media in China, stating that after 20 years of hard work and extreme frugality, he had saved 7.89 million Chinese yuan, only to be scammed within 6 days. The scammer even sent a mocking text message afterwards, saying, “You are the biggest client I’ve ever had.”
Mr. Chen, who usually earns a living by delivering goods through a logistics service, has been leading a very frugal lifestyle, living in a small bungalow and spending less than 20 yuan on his entire wardrobe. Every penny of his hard-earned money was saved through sheer hard work and thriftiness.
In April this year, Mr. Chen received a call from a stranger claiming to be a staff member of a private equity fund in Shanghai, inviting him to invest in stocks. Despite being cautious at first, Mr. Chen gradually let down his guard after frequent contact with the caller over a month.
By May, the caller requested Mr. Chen transfer his funds to a designated stock trading app under the pretext of lower transaction fees. In total, Mr. Chen transferred the 7.89 million yuan in 6 installments to a stranger’s account. After the final transfer, the app suddenly became inaccessible.
Following this, the scammer sent a message mocking Mr. Chen, saying, “Thank you, you are the biggest client I’ve ever had.” It was then that Mr. Chen realized he had been deceived. The local police have initiated an investigation into the case.
Upon the exposure of this incident, it sparked heated discussions among Chinese netizens:
“At the end of the day, it was all for nothing! No smoking, no drinking, no friends, saving 7.89 million over 20 years… and all gone in the end.”
“Savings of 7.89 million, yet fell victim to fraudulent stock trading. If that amount of money, say 90,000 yuan, was used for foot baths and promoting blood circulation, it would have done wonders for the body.”
“The money saved through frugality only holds meaning when used to improve living conditions and quality of life. Otherwise, it holds no value.”
“Holding onto 7.89 million without any consumption, whether the money is there or not doesn’t impact life. Being scammed by fraudsters actually forces one into circulation of expenditure.”
“Remember one golden rule: Never trust cold calls promoting private equity and promising high returns. The lesson learned from losing 7.89 million is alarming. No matter how resilient someone is, they cannot withstand the devastation of an investment scam.”
“The stock market carries risks, and investments should be made with caution! First-time stock investors should not aim to get rich quickly. They should start by reading relevant books to grasp the techniques, then download legitimate apps from official channels and start with stable stocks in small amounts. Greed is the biggest enemy in stock trading; one should learn to take profits when they are good.”