Hong Kong Elderly Victim Loses Over HK$13 Million in Crypto Investment Scam
A Hong Kong man in his seventies lost more than HK$13 million after being targeted through WhatsApp by a stranger claiming to be a Singapore-based “crypto investment expert.” The victim opened a wallet, bought USDT and ETH, downloaded a fake investment app provided by the scammer, and transferred assets to a designated address.
The fake app initially showed profits, prompting the victim to increase his investment. He discovered the fraud only after withdrawal requests were rejected. Police said they received more than 40 investment scam reports in the past week, with total losses of about HK$50 million, and urged the public not to respond to strangers, trust self-proclaimed investment experts, or download apps from unknown sources.
