Debunking the “smart trading software” scam

2022-07-29 0 By

Although “Light Qing” has the function of quantifying automatic transactions, it is far from worthy of the victim to pay high consideration.Neither outstanding technology nor professional services, in order to inflate the value of software to induce victims to take out real money and silver, lawless elements in the whole process of marketing can be described as the whole chain of fraud.One day in August 2021, a 36-year-old man named Wang received a sales call from Qingqing intelligent trading software and added the salesman’s contact information.The other party, claiming to be Xiao Zeng, introduced Wang to an intelligent decision-making trading software called “Light Engine”, which he claimed could ensure that users could earn 20 to 30 percent of their monthly income on overseas foreign exchange platforms.Mr. Wang did not believe it at the beginning and did not pay much attention to each other.But xiaozeng insisted on sending screenshots and videos of other customers’ earnings, and did not stop instill information that “light engine” could help make money, gradually making the victim interested.Later, Mr. Wang was pulled into a social networking group for the “Light Engine” experience, where people constantly shared revenue and financial information.After a while, Mr. Wang decided to try out the free version of Qingqing.At the instigation of Xiaozeng, Mr. Wang, who has never had foreign exchange investment experience, registered an account on the overseas platform to merge into the gold of $1000.Subsequently, salesman through remote operation installed and debugged on Mr. Wang’s computer “light engine” software, and guide its operation.Three days of experience quickly passed, Mr. Wang found some benefits on the account, so the initiation of the idea of buying the official version of the software.At this time, Xiaozeng also timely to sell, he suggested Mr. Wang to buy the monthly version of the software, and informed the quota of limited pre-purchase as soon as possible.On October 12, 2021, Mr. Wang bought the moon version of “Light Engine” at the price of 3,299 YUAN and signed the relevant contract at the same time.After buying the software, Mr. Wang was pulled into another wechat group chat, where his status became “VIP.”Three days later, has not waited for the monthly version of the software to bring benefits, Mr. Wang’s mobile phone on the group of messages.It turned out that one of the “Light Engine” employees in the VIP group had sent a “red header file” that read:”The new operating environment of Light engine software is about to go online, now cancel the monthly version, only open the annual version and the three-year version”, and claimed that the number of new software is limited, “the operating computing capacity is increased 10 times on the current basis, the account risk is reduced by 50%, this new environment research and development project has cost 200 million DOLLARS…”A message, caused a group of intense discussion, Mr. Wang learned in the public chat, he just bought three days of software should be forced to close the channel immediately.As he knew little about overseas platforms, he would not trade without “Light Engine” software. Once the software channel was closed, his account would be exposed to the risk of stock explosion, so he hurried to xiao Zeng for a solution.In the face of anxious Mr. Wang, the salesman has words to deal with early, while saying that the version of the channel to all new users upgrade will be opened again, while advocating the year version of “light engine” functional advantages, words in words is the old version can not be used, customers have to pay again to buy a new version.Meanwhile, someone in the VIP group had posted screenshots of the software transfer, which made Wang decide to splash out on the annual version of Qingqing.After Mr Wang gives his consent, clerk did not deal with buying and selling formalities immediately, continue to launch offensive however, vigorously promote 3 years version “light qing”, say preferential intensity is unprecedented, this day only.Under Xiaozeng’s persuasion, the victim finally agreed to buy the three-year version of “Light Engine” software for 77,777 yuan in installments.That night, Wang overdrew his and his wife’s credit cards to make a down payment of more than 58,000 yuan to buy the software and sign the contract.Mr. Wang bought the “top match” software, this thought can finally set his mind at profit, but did not lead a week, the salesman brought new bad news.Xiao Zeng said that at the request of the parent company, all customers must pay the balance immediately, or they will be forced to stop using the software, or even face a court summons.The news makes the victim difficult to accept, but at this time the VIP group of “actors” and play with, have said received the same notice, but “the flower also have to spend”.Seeing that everyone had the same experience, Mr. Wang’s unhappiness was calmed down a little, and finally he gritted his teeth and borrowed money from a friend to make up the rest of the payment.It was not until October 26, 2021, when the police contacted Wang and said he had been cheated, that he suddenly understood and went to the police station to explain the situation.Intelligent software only for quantitative automatic plug-in, profit and loss also see individual, after the case is transferred for Shanghai’s songjiang district people’s procuratorate to undertake attorney involved in information technology co., LTD. The boss a hin, the IT department manager Ms. Tsai, technical backbone chu yu waiting for questioning, that the so-called smart trading software no publicity of so powerful.Suspect CAI Xuan confessed, the company is its bought at the beginning of 2020, the company set up IT department, market department, network sales department, customer service department and other departments, specializing in operating intelligent trading software.Before that, he ran another company, an intelligent trading software business called Triangle, until it was shut down due to bad publicity.In 2020, “avoid complex on the simple” CAI Mou Xuan led Gao mou, Chu Mou Yu and other technical backbone to develop a quantitative automatic trading plug-in – “light qing”.”Light with” automated trading system is the key of the implementation of function algorithm, research and development of the companies involved by buying half way developed several sets of their trading strategies, however, that several sets of trading strategy has not been used in the right direction – some yu told technician chu: “the manager Ms. After I finish year edition, specially let me do a version without strategy…Only software with a strategy can trade automatically. Without a strategy, it cannot trade automatically.”In the marketing process, the company involved in the case would use empty monthly software for the victim according to the customer’s response, and the surplus generated by the customer operation was actually generated by the salesman using background technology to manually follow up orders.Salesman documentary use a set of more robust investment strategy, can maintain a certain probability of small profit within a few days.In order to avoid customers using software for a long time to expose the lack of functional problems, the company requires the salesman to encourage customers to complete the monthly version to the annual version in a short period of 4 days.One victim, from Jiangsu province, told investigators: “[The light engine] is not helpful. It depends on the market.Market stability is likely to make money, market volatility is large or will lose or even burst positions, through this software to recover the cost of the purchase of software is almost impossible, but not the customer service commitment as stable monthly income to 20% to 30%.”Selling process chain all false, the company to “change skin” the companies involved in live online teaching methods to promote the brand, will be packed without any financial background sales people into gold medal lecturer, in the form of “for class qualifications” collect customer information, at the same time around offline using information technology to collect customer communication telephone bombardment.In the initial stage of contacting customers, the salesman bragged about the strength of the company, sent pictures and videos of the building appearance and office environment, and packaged the company as a large-scale enterprise located in the core area.When the victims were partially unguarded, they would shift the conversation to “Light Engine” and send numerous screenshots of fake profits.According to the customer’s interest level, the salesman will pull the other party into the “experience group”, “VIP group” and other group chat, in the “group of actors” under the precise set.Under normal circumstances, successful deceive a customer to buy a month version “light engine” soon after, clerk can move out of a paper “red head file”, with software upgrade, channel close the reason to force the victim to buy a year version of the software at a high price, if the other side installment payment, clerk can with the company to check the account and other reasons for forced sheet.The company also created more than 4, 000 words of the script for the patterned scam.Words this detailed lists various dialogue scenarios and coping styles, and even in manufacturing “the new online business suddenly overwhelmed” after the tension of the indicated time to call “the phone hang up, wait 10 minutes back” and communicate emotions “enthusiasm, passionate, time is short, try so hard, the determination to win, momentum, vicious”.In addition to the sharp-tongued salespeople, the online sales department responsible for group building and the art department responsible for photoshopping also played an important role in the scam.Criminal suspect Huang mou yuan is the network sales department head, he explained: “every day’s work is to build a group, according to the requirements of the Marketing Department we pull 40 or so employees to the group, the final sales to the real customers into the group, each such a group of real customers on 1 to 2 people…”Beauty department employee Zhang Xu confessed, PS false income screenshots, customer payment records, company scale related pictures, company announcements or “red head files” are their work content, said “salesman will send original drawings and requirements in the work group, artists to respond in 5 minutes”.The companies involved relied on illegal means to market their products, and complaints and negative posts against The software appeared frequently on the Internet.In order not to affect fraud, the company spent a lot of energy to deal with negative information and maintain the company image.An IT manager at the company said, The company s Internet operation is in charge of dealing with negative comments on the Internet. Some of our employees complain to the company s business license for fraudulent content on the platform.In cases where most of the negative information has been erased, the company will negotiate a refund only if individual customers stick to their rights or choose to report to the police.As more and more negative news against The “light engine”, before the incident, the boss CAI Moxuan had started to change the “vest”, changing the company name and marketing “Qixing”, “bullman” and other similar products with “light engine”.In January 2022, the case was transferred to Shanghai Songjiang District People’s Procuratorate for examination and prosecution.According to the prosecutor, the information technology Co., Ltd. involved in the case used the fake monthly version of the software to lure the victim to try it out, used the background to create false profitability, and then through PS, group building and other ways to strengthen the “light” software can bring stable income illusion.After obtaining the victim’s trust, the suspect used false reasons such as system upgrade and audit of the head office to trick the victim into buying the annual version of the software to obtain high consideration, which constitutes a crime of fraud.On February 17, the People’s Procuratorate of Songjiang District in Shanghai prosecuted 43 suspects including CAI Mou Xuan.Source: Yun Yun