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      Hong Kong Retiree Loses Over 4.5 Million Hong Kong Dollars in Cryptocurrency Scam

      The Hong Kong police reported a surge in investment fraud cases, receiving more than 50 reports in just one week, with total losses exceeding 30 million Hong Kong dollars. Among the victims is a retired woman in her sixties who fell prey to a cryptocurrency investment scam after meeting a man on a property trading platform.

      The man, posing as an investment expert, recommended cryptocurrency investments and provided links to fraudulent websites. Following his guidance, the woman made multiple visits to a physical cryptocurrency exchange store, purchasing USDT, which she transferred to a designated wallet for investing in Ethereum (ETH). Initially, she was able to withdraw some funds, which encouraged her to invest further.

      However, when she attempted to withdraw her funds again, the scammer demanded an additional payment of approximately 7 million Hong Kong dollars in USDT as a supposed tax. It was at this point that the woman realized she had been deceived, resulting in a total loss of over 4.5 million Hong Kong dollars.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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