A 70-year-old man in Hong Kong fell victim to a cryptocurrency investment scam: losses exceeded 13 million Hong Kong dollars

According to reports from Huigang Communications, in the past week, the Hong Kong police received over 40 investment fraud cases, with total losses exceeding 50 million Hong Kong dollars. One elderly man in his seventies received a message via WhatsApp from a stranger claiming to be a "cryptocurrency investment expert" from Singapore. Following the instructions, he opened a wallet and purchased USDT and ETH, then downloaded a counterfeit investment app provided by the other party and transferred his assets to a designated address.

The fake app initially showed profits, prompting him to double his investment. It was only after being refused when attempting to withdraw that he realized he had been scammed, with losses exceeding 13 million Hong Kong dollars.