According to ChainCatcher, citing the Hong Kong Wen Hui Bao, Hong Kong Police’s Cybercrime Bureau’s “Cyber Guardian” unit has disclosed a cryptocurrency fraud case. A 66-year-old retiree was deceived three times by fake “cryptocurrency investment experts” starting in September 2025. After initially losing HK$1.4 million, the victim paid another HK$600,000 as a “recovery deposit” to a different “expert” in an attempt to reclaim the losses. The victim was then further tricked into purchasing HK$4.6 million worth of cryptocurrency and transferring it to a designated account. In each instance, the scammers disappeared after receiving payment, resulting in total losses of HK$6.6 million within six months. The victim eventually reported the case to the police. Authorities warn the public not to believe claims of “guaranteed returns” or so-called “loss recovery” services to avoid falling victim to chain fraud schemes.
Hong Kong Police Disclose HK$6.6 Million Virtual Currency Fraud Case Involving Retired Individual
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Summary
Hong Kong police disclosed a HK$6.6 million virtual currency fraud case involving a 66-year-old retired man. Between September 2025 and March 2026, the victim was deceived by a “virtual currency investment expert,” initially losing HK$1.4 million and an additional HK$600,000 to a purported “loss recovery” service. A further HK$4.6 million in cryptocurrency was transferred to a scam account. The scammers disappeared after receiving the payments. Authorities urge the public to monitor the Fear & Greed Index and avoid schemes promising guaranteed returns. Investors are advised to remain cautious and track altcoins for potential warning signs.
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