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Boy Uses Grandfather’s Retirement Money To Tip Live-Streamers

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A lot of people say that money is not important, but it actually is. We need money to survive, which is why a Chinese grandfather was horrified when he found out that his 11-year-old grandson spent 40,000 yuan (approx. US$5,965.00) of his retirement money on something unimportant.

The young boy left his grandfather’s almost penniless after using his retirement savings to tip live-streaming hostesses through his phone. The elderly man was said to only have 600 yuan (approx. $90) left from his pension.

Identified only by his surname Li, the grandfather in Sichuan province uses his retirement money for purchasing his needs like food and medicine. However, he was shocked when he found out that a huge chunk of his funds was missing from his bank account. The disappearance of his money happened in just three days.

Knowing that his grandson, nicknamed Xiaowei, regularly used his phone, he immediately suspected that he was the one who took the money. Since his grandson is the one who cashes out money to buy him food, he knew the password to his online cash account.

After checking his transaction history, Li discovered that almost all of his savings were used on China’s popular live-streaming app iQiyi.

Bank statements revealed that Xiaowei had 54 transactions on iQiyi. he used it to convert into”Qidou,” which is a virtual money used for tipping hosts.

Xiaowei also used his grandfather’s the money to play video games, aside from sending tips to hosts.

Although his grandson owned up to his mistakes, Li has all the right to be upset, and understandably so, because the money that Xiaowei used for only three days was meant to be his retirement income for the whole year.

The family reached out to iQiyi and explained that the money was the old man’s retirement income for the whole year. Fortunately, the video-hosting website understood the worries and said that they will send a full refund after completing an investigation on the incident.

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