Hong Kong Police Expose "AI Quantitative Trading" Virtual Currency Scam, Victims Lose HK$7.7 Million

Odaily News: Hong Kong police have disclosed a fraud case that lured investments in cryptocurrency under the guise of "AI quantitative trading," with a woman losing approximately HK$7.7 million. The scammer impersonated an "investment expert," proactively contacted the victim via Telegram, and claimed to achieve stable high returns using "quantitative trading" and "AI algorithms." The victim transferred USDT and ETH worth about HK$7.7 million from her e-wallet to a specified address in 17 separate transactions. She only realized she had been scammed when her withdrawal attempts were denied. Hong Kong police warn that while cryptocurrencies have high return potential, they also come with high volatility and risk. So-called "AI trading" and "guaranteed quantitative profits" are often fraudulent lures. The public should be wary of the "impossible trinity" trap of high returns, low risk, and low barriers to entry. (HK01)