Pokémon card collector Jesse Peng stated that he spent over $660,000 to purchase a PSA 10 graded version of a 2011 Call of Legends series holographic Rayquaza card. However, upon investigating its origin, he discovered that the authentication slab for this high-value collectible might be counterfeit.
Peng mentioned that the card appeared pristine and the label looked highly realistic. The transaction was also facilitated by a reputable intermediary within the trading card community, so no obvious anomalies were initially apparent. However, his own detection system flagged this item as counterfeit.
According to Peng, both the card itself and the label are genuine; the issue lies with the anti-counterfeit ink used in the slabbing process, which features characteristics inconsistent with other authentic slabs in his collection. Therefore, the so-called "fake card" actually refers to a replicated or tampered authentication slab, rather than the card being entirely forged.
Peng stated that profit-driven activities in recent months have been undermining his collecting hobby, which he has pursued for 25 years, leading him to consider quitting at one point. He plans to use his app and verification technology to track down the scammers. Currently, it remains unclear whether the funds have been recovered or if the seller's identity has been confirmed. It has not been verified that PSA or law enforcement agencies have officially authenticated the card, and existing case details primarily stem from Peng's own disclosures.