Hong Kong Police Reveal Retiree Falls Victim to "Cryptocurrency Expert" Scam Three Times, Loses HK$6.6 Million in Six Months

Odaily News Hong Kong police's Cyber Security and Technology Crime Bureau (CSTCB) "CyberDefender" has disclosed a cryptocurrency fraud case. A 66-year-old retiree fell victim to a "cryptocurrency investment expert" scam three times since September 2025. After losing HK$1.4 million in the first instance, the victim, in an attempt to recover the losses, paid a HK$600,000 deposit to another "expert." Subsequently, they were induced to purchase HK$4.6 million worth of cryptocurrency and transfer it to a designated account. The fraudsters disappeared after receiving the funds each time. The victim accumulated losses of HK$6.6 million within six months and eventually reported the case to the police. Authorities warn the public not to trust "guaranteed profit" investments or so-called "loss recovery" services to avoid falling victim to serial scams. (Hong Kong Wen Wei Po)