What happened

Pang, 78, connected with a woman named "Mika" on the dating platform PinaLove. Mika quickly gained his trust and convinced him to invest in what she claimed was a lucrative online reseller business, promising a 10 percent commission on every sale. 

The platform was a counterfeit version of the Japanese e-commerce giant Rakuten, and Pang transferred significant sums - including over SGD 27,000 in cryptocurrency - believing he was funding legitimate orders. 

However, the system was rigged so he could never withdraw his funds, with fake orders continually preventing payouts. 

The scam comrpised heavily AI-edited photos, later revealed to be stolen and doctored images of Singaporean influencer Vanessa Ho, to create a convincing online persona. 

Pang was left devastated, both financially and emotionally, after the scam went viral and he became a public example of such a fraud.

Why it happened

The scam succeeded due to a combination of emotional manipulation, the use of advanced AI technology to fabricate identities, and a convincing business front. Pang admitted that his loneliness and the flattery from a much younger woman made him vulnerable to suggestion. 

The scammer capitalised on his trust, using AI-generated images and fabricated earnings reports to maintain the illusion of legitimacy. The fraudulent business model exploited a common "reseller" scam tactic, where victims are required to continually reinvest, making it impossible to withdraw their money.