Hong Kong Police Reveal "AI Quant Trading Guaranteed Profits" Cryptocurrency Scam, Victims Lose 7.7 Million HKD

Odaily reported that Hong Kong police have disclosed a fraud case involving luring investments in cryptocurrency under the guise of "AI quantitative trading," where a woman was defrauded of approximately 7.7 million HKD. 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 7.7 million HKD from her e-wallet to a specified address 17 times. It was only when she attempted to withdraw funds and was refused that she realized she had been scammed. Hong Kong police warn that while cryptocurrencies have high return potential, they also come with high volatility and risk. So-called "AI trading" and "quantitative guaranteed 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)