An elderly man in Hong Kong, aged over 80, lost more than HK$5 million in just six weeks after falling victim to a fake cryptocurrency app scam

Odaily Planet Daily News: Hong Kong police revealed that a retired man in his 80s clicked a fraudulent link in an online pop-up ad in June this year, downloading a fake app called "Trust Wallet" that impersonated a cryptocurrency platform. Subsequently, scammers posing as platform customer service representatives lured him into investing with promises of "high returns and big profits." The man withdrew cash from the bank as instructed and exchanged it for cryptocurrency at a crypto exchange shop, then transferred ETH worth more than HK$5 million in multiple transactions to wallets designated by the scammers over the following six weeks. He only realized he had been defrauded when he could no longer withdraw funds from the fake app and customer service became unreachable. Hong Kong police reminded the public that family members should pay attention to the online habits and financial situation of elderly relatives, proactively share anti-fraud information, and remain vigilant against investment scams involving fake apps and promises of high returns.