Elderly Man in Hong Kong Loses Over HKD 13 Million to Cryptocurrency Investment Scam

In the past week, the Hong Kong police received over 40 reports of investment scams, with total losses exceeding HKD 50 million. A 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 scammer and transferred his assets to a designated address. The fake app showed profits, prompting him to double his investment. When he attempted to withdraw funds, he was refused and realized he had been scammed, resulting in a loss of over HKD 13 million.

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