Elderly man loses $55,000 in TikTok 'store' scam after being lured by 'beauty'
A 76-year-old man lost $55,000 in a TikTok scam after being persuaded by a woman who claimed he could earn easy profits by opening an online store.
Speaking to Shin Min Daily News, the retiree said the ordeal began on April 21 when a TikTok user identifying herself as "Miss Li" messaged him.
"She was Chinese and looked attractive, so I chatted a bit more," he said.
Though aware of online scams and usually cautious, the man said "Miss Li" slowly gained his trust. She told him he could earn profits by investing through a TikTok store platform, prompting him to continue the conversation.
They later moved their chat to WhatsApp. On April 29, "Miss Li" introduced him to what she claimed was a commercial version of TikTok. She sent screenshots and a download link, instructing him to register, invest money, and begin listing products for "business".
On May 1, she convinced him to download a virtual currency wallet app. He had trouble setting it up, but eventually succeeded.
"She asked me to take photos of my bank card, front and back, and guided me step by step, from binding the card, to recharging, to buying virtual currency, then transferring it to a specific wallet."
The man was even able to withdraw small amounts of money at first, which made the platform appear legitimate. "That's when I believed it was real and ended up transferring a total of $55,500," he said.
It wasn't until he could no longer withdraw any money that he realised he had been scammed.
"Most of it was my retirement savings," he said, adding that he kept it from his wife and struggled for days before finally telling his children and filing a police report.
The police have confirmed that a report was lodged and investigations are ongoing.
The man said the experience has taken a toll on him, and he has been unable to eat or sleep since the incident.
He even borrowed $10,000 from a friend during the scam and is now relying on his children to discreetly raise around $1,000 a month to cover household expenses, without alarming his wife.
"My wife and I rely on our savings for our retirement. I couldn't bring myself to tell her as I knew she would be worried," he said, choking up.
Despite everything, he continues to believe "Miss Li" is real and insists she is not part of a syndicate using stolen photos or AI-generated images.
"She changed her number to a Hong Kong one. I've even had a video call with her," he said.
Even when told that scammers often use deepfakes or pre-recorded videos during such calls, he remained unconvinced. "She sent me real-time photos while travelling overseas. I'm sure she's a real person," he said.
