Tungsten-Core Fake Gold Bracelet Pledge Scam: Using Low-Price Purchases of Real Gold as a Facade to Defraud Jewelry Stores

Who Gets Targeted

The primary victims are individual operators of small and medium-sized gold and silver recycling shops, pawnshops, and consignment shops, mainly distributed across more than 10 prefecture-level cities including Dezhou, Zibo, Jinan, and Liaocheng in Shandong Province. Making a living by buying gold for price differentials and lacking penetration-type testing equipment, they tend to trust industry practices such as 'short-term pledges and redemption upon maturity.' They are easily lured by the gang's pitch of 'urgent need for money, without damaging the jewelry,' leading them to trust traditional gold inspection results such as appearance, weighing, and burning. According to the report by the Leling Municipal Public Security Bureau, the gang has committed more than 40 crimes totaling over 1 million RMB in involved funds, with single-case losses reaching over 100,000 RMB, ultimately leaving victims completely ruined. (Reported by Leling Municipal Public Security Bureau on 2026-08-12)

骗局怎么运作

• The gang first posts ultra-low quotes for tungsten-core fake gold bracelets on online platforms or secondhand markets, claiming they are pure gold and have passed professional institution inspections, exploiting victims' desire for high returns to lure jewelry stores or individuals into paying deposits or full payments in advance.
• After the victim makes the payment, the fraudsters demand real gold or cash as collateral, promising to buy it back at a higher ratio, and require delivery at a designated jewelry store within a limited time to create a sense of urgency and credibility.
• At the delivery scene, the fraudsters use prepared tungsten-core gold bracelets for 'gold inspection,' exploiting the limitations of ordinary metal detectors or visual inspections to claim the inspection has passed, and subsequently demand that the victims immediately deliver real gold or cash.
• Once the victims deliver the real gold, the fraudsters immediately replace it with fake gold bracelets and leave on the pretext that the 'transaction is completed,' subsequently destroying or reselling the fake gold bracelets at a low price, leaving the victims completely ruined.
• The entire process is usually completed within a few hours. The scam syndicate utilizes multiple members with distinct roles—online promotion, on-site delivery, and subsequent money laundering—forming a complete criminal chain while moving rapidly across different cities to evade local police tracking.

红旗信号（看到这些快跑）

• 🚩 Quotes are far below market prices and promise abnormally high returns.
• 🚩 Demands for advance payment before gold inspection, without providing authoritative inspection reports.
• 🚩 On-site inspection of metal composition relies solely on visual checks or ordinary instruments.
• 🚩 The transaction process emphasizes urgency, requiring completion within a short timeframe.
• 🚩 The provided contact person or payment account involves non-formal channels such as personal mobile numbers or WeChat.

真实案例

• On August 12, 2026, the Ningbo Municipal Public Security Bureau in Zhejiang Province cracked a tungsten-core fake gold bracelet pledge scam. The total value of the fake gold bracelets involved was approximately 3 million RMB, 9 suspects were arrested, and about 2 victimized jewelry stores suffered total losses of approximately 2.5 million RMB.
• On May 27, 2026, police in Leling District, Liaocheng City, Shandong Province disclosed a gold bracelet tungsten-core scam case. The victimized store owner discovered during inspection that the inside of the bracelet was a tungsten core. The involved amount was approximately 1.5 million RMB, 3 suspects were arrested, and the criminal method involved first receiving real gold as collateral and then swapping it back with a fake gold bracelet.
• In April 2026, police in Hanoi, Vietnam reported a fake gold bracelet scam case where 9 suspects used tungsten-core fake gold bracelets to deceive jewelers, illegally profiting approximately 3.9 trillion VND (equivalent to about 1.7 million RMB). The case involved cross-province operations, and the suspects were handed over to judicial authorities after arrest.

Official Stance

• CCTV News, China Media Group, 2026-08-12, published the report "Video: Gold cut open unexpectedly reveals tungsten core! Police crack 'gold-wrapped tungsten' fake jewelry pledge scam" (Source: [https://content-static.cctvnews.cctv.com/snow-book/index.html?item_id=4648680688152964258&toc_style_id=feeds_default&channelId=1119](https://content-static.cctvnews.cctv.com/snow-book/index.html?item_id=4648680688152964258&toc_style_id=feeds_default&channelId=1119))

How to Protect Yourself

• ✅ Before any gold jewelry trading or pledging, be sure to request an authoritative metal composition report and verify the authenticity of the report number.
• ✅ Use professional instruments such as high-precision X-ray or densitometers for on-site testing to confirm that the density of the gold jewelry matches real gold, avoiding judgment based solely on visual appearance.
• ✅ Do not accept transaction models requiring advance payment before inspection, especially those requiring delivery to be completed in non-formal jewelry stores or private locations; such offers should be refused in favor of regular channels.
• ✅ If the payment account or contact person provided is a personal mobile number, WeChat, or temporary account, raise vigilance and verify industrial and commercial registration information before proceeding with the transaction.
• ✅ If abnormalities are discovered, immediately report them to local public security organs or banking and insurance regulatory authorities while preserving evidence such as transaction chat records and transfer receipts.