[Canada] Are my coworkers being scammed?

Hey everyone, I recently started a new job and made some work friends. After a couple weeks one of the coworkers tells me about this Asian woman who he was talking too. All seems normal up until he starts to mention how they met and a little bit more about what they talk about. Apparently she had texted him as a “wrong number” and then they hit it off, a few weeks of them talking goes by and she mentions that she is very wealthy and likes to do gold derivative trades on through Coinbase web browser on a website called “plusdoog” that cannot be accessed via normal means.

He started to show me his gains of $1000, $2000, upwards of nearly $20k. This all this seems a little extreme to me but what makes it worse is that he recently got another coworker involved in it. He has put likely tens of thousands into this so far and I have asked if he could withdrawal money, so he did a withdrawal of $100 and it went through. She even sent him money out of good faith to try to prove to him that this is all legit.

Is this a scam? It seems like it to me but it seems elaborate and he mentioned they have been chatting for around 8 months so far. What do you guys think? Anything would be appreciated. Thanks in advance!