A Hong Kong man in his 70s lost approximately HK$18 million (roughly US$2.3 million) in a cryptocurrency investment scam after being lured through a YouTube advertisement in June. The victim was added to a WhatsApp group by someone posing as an investment consultant and instructed to purchase crypto assets via a fake platform that promised higher returns. Between August and October, the man transferred USDT and ETH worth over HK$18 million to designated wallets. He initially withdrew about HK$800,000 in USDT, but subsequent withdrawal requests were rejected, leaving him with nearly total losses. Hong Kong law enforcement reported receiving more than 40 investment fraud cases over the past week, with combined losses reaching nearly HK$50 million, underscoring the growing scale of crypto-related scams targeting elderly investors in the region.