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According to chinanews.com, there have been many cases of people being swindled out of money.In one incident, a man surnamed Huang swindled a woman out of over 7 million yuan (

According to chinanews.com, there have been many cases of people being swindled out of money.In one incident, a man surnamed Huang swindled a woman out of over 7 million yuan ($1.12m, £730,000) by pretending to be a Chinese American registered to a matchmaking website.Afterward, of course, the bilked bachelor never hears from his date again."It's sort of a perfect scam," said Gianluca Stringhini, one of the study's co-authors, "because the person would never realize that they've been scammed." Indeed, as the study points out, the mark may have even had a good time while getting grifted.It's also, according to Stringhini, not strictly illegal, so the conspirators don't put themselves at much of a risk.The grifter directs his victim to a local florist — who he knows — and then they share the profit.And potential victims are lining up for many of these cons: 20% percent of the "swindler" profiles received at least 70 message before being deleted.For example, in the fascinating "flower basket" con, a profile representing an "attractive mid-aged man" contacts a middle-aged woman and, over time, develops an entirely online romantic relationship with her.After some time, the grifter "will start implying that he wants to marry the victim" and will claim his parents require a gesture of good will: an incredibly expensive (up to $20,000) flower basket as a lucky charm for a fictional new store.

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According to chinanews.com, there have been many cases of people being swindled out of money.

.12m, £730,000) by pretending to be a Chinese American registered to a matchmaking website.Afterward, of course, the bilked bachelor never hears from his date again."It's sort of a perfect scam," said Gianluca Stringhini, one of the study's co-authors, "because the person would never realize that they've been scammed." Indeed, as the study points out, the mark may have even had a good time while getting grifted.It's also, according to Stringhini, not strictly illegal, so the conspirators don't put themselves at much of a risk.The grifter directs his victim to a local florist — who he knows — and then they share the profit.And potential victims are lining up for many of these cons: 20% percent of the "swindler" profiles received at least 70 message before being deleted.For example, in the fascinating "flower basket" con, a profile representing an "attractive mid-aged man" contacts a middle-aged woman and, over time, develops an entirely online romantic relationship with her.After some time, the grifter "will start implying that he wants to marry the victim" and will claim his parents require a gesture of good will: an incredibly expensive (up to ,000) flower basket as a lucky charm for a fictional new store.

Top Chinese dating site Baihe.com, which was merged with matchmaking website in 2015, has suffered a nearly 50% stock fall and a loss of 1.7 billion yuan (260 million US dollars) on Wednesday, reports The Beijing Youth Daily.

In another, a man on a dating site was told to pay 6,300 yuan for a "one night stand", but after he transferred the funds, the other registered user offering to provide him with the service broke off all contact.

Due to China's one-child policy, there is a growing problem whereby there are many single men in the country, and women who choose to remain single late into their 20s as they pursue careers are called "leftover women" and are put under enormous pressure by their families and society to get married.

Shares of the company have been traded as low as 3.6 yuan (0.5 US dollars), down 48 percent, and closed 18.62 percent lower at 5.68 yuan (0.9 US dollars) on The National Equities Exchange and Quotations, China's over-the-counter stock market for start-ups.

The plunge follows the tragic suicide of We Phone founder Su Xiangmao on September 7th, 2017.

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