- More than 80 cases of crypto investment scams were reported in Hong Kong this week.
- A Hong Kong resident lost about 7,7 million Hong Kong dollars in a cryptocurrency scam. Telegram.
Hong Kong Police reported A wave of online investment scams has swept across the city this week. In seven days, police have recorded more than 80 cases and losses totaling over HK$80 million. One incident in particular caught the attention of law enforcement: a woman lost approximately HK$7,7 million in a cryptocurrency scam involving Telegram using artificial intelligence.
According to authorities, the scam began when the fraudster contacted a woman in Telegram He claimed to offer professional investment advice. The scammer promised high returns through quantitative trading and AI tools. Soon after, the victim received a link to a fake investment platform and instructions for transferring funds. She then sent 17 transfers of USDT and ETH from her wallet to an address controlled by the scammer.
The scam was uncovered when the victim attempted to withdraw the money listed as income on the platform. However, the “operators” suspended the process and continued to come up with new excuses. She later realized the profits were fictitious and the platform itself was just part of a fraudulent scheme.
This isn’t the first case of AI-based fraud targeting Hong Kong residents. In March, a 66-year-old retiree lost $6,6 million in a six-month cryptocurrency scam.
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