Munich police detail organized cyber-trading scams using deepfakes and romance baiting
Munich police describe a surge in organized cyber-trading scams that use AI deepfakes and romance baiting to steal billions in crypto assets. Victims are often targeted by operators in Southeast Asia using human trafficking victims.
Kriminalhauptkommissar Joachim Jentsch of the Munich Police's specialized unit, Kommissariat 72, described "cyber-trading" as a form of organized crime involving 154 billion in global illicit crypto assets in 2025, with 17 billion specifically attributed to crypto scams. Jentsch noted that these operations are highly professionalized and psychologically manipulative, often exploiting trust and technical complexity. Victims include highly educated professionals, and the recovery rate for stolen funds is extremely low.
The scams typically begin with AI deepfake ads featuring politicians such as Angela Merkel or through "romance baiting" on dating apps. Operators, frequently based in Myanmar and Cambodia and sometimes using human trafficking victims, lure victims into making a small initial investment of 250 euros on fake platforms that display fabricated gains. Pressure tactics and fake regulatory documents then escalate the investment to large sums. Funds are laundered through crypto exchanges and software wallets, frequently using USDT on the Tron blockchain. Jentsch advised against installing remote access software or moving conversations from dating apps to WhatsApp or Telegram, emphasizing that victims should report incidents to police without shame. He stated that in these cases, the investments never actually take place.