Elderly Hong Kong Man Loses Over HKD 21 Million in Crypto Scam

The Hong Kong police's "Guardians of the Net" platform reported that over the past week, more than 40 investment fraud cases were received, with total losses exceeding HKD 36 million. A man in his sixties was approached by scammers after posting in an online discussion forum, and they moved their conversation to WhatsApp. The scammers lured him into investing in cryptocurrency with promises of high returns, asking him to download a wallet application and provide a link to a fake investment website, authorizing the wallet to transfer funds to that site. Initially, his account showed a profit of HKD 920,000, which was successfully transferred to his wallet. Within six months, the elderly man transferred money to the fake website over 20 times, amounting to approximately HKD 19 million, with his account at one point showing over HKD 42 million. Subsequently, his account was frozen, and customer service requested an additional deposit of over HKD 7 million to unfreeze it. After transferring about HKD 1.2 million, the man became suspicious and reported the case to the police, ultimately losing over HKD 21 million.

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