PANews, October 4: According to Hong Kong 01, a 60-year-old woman in Hong Kong met a scammer online who claimed to be an “investment expert” and was tricked into investing in cryptocurrency through a fake website. The platform repeatedly requested that she submit collateral to prove her account was not being used for money laundering. Between April 14 and September 22, the woman made multiple transfers totaling approximately HK$21.5 million to the designated investment account. Suspecting fraud, she reported the incident to the police on October 3. The police have initially classified the case as obtaining property by deception and assigned it to the Fourth Criminal Investigation Team of the Sau Mau Ping Police District; no arrests have been made yet. The police warned that obtaining property by deception is a serious offense, punishable by up to 14 years’ imprisonment upon conviction.
Hong Kong woman loses HKD 21.5 million in crypto investment scam
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Summary
A woman in Hong Kong lost HKD 21.5 million in a cryptocurrency scam after being targeted by a fraudster posing as an investment expert. Between April 14 and September 22, she repeatedly deposited funds into a fake investment account. The platform falsely claimed the money was required to verify her account for anti-money laundering purposes. She reported the incident to police on October 3. Authorities have classified the case as property fraud. A crypto scam alert has been issued, with police warning that such offenses carry a maximum sentence of 14 years. This incident adds to the growing number of crypto news reports highlighting risks to investors.
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