Hong Kong Septuagenarian Falls Victim to Cryptocurrency Investment Scam, Loses Over HK$13 Million

According to reports from HK08, the Hong Kong police received over 40 investment fraud cases in the past week, with total losses exceeding 50 million Hong Kong dollars. A septuagenarian received an unsolicited message via WhatsApp from an individual claiming to be a Singaporean "crypto investment expert." Following instructions, he set up a wallet and purchased USDT and ETH, then downloaded a fake investment app provided by the sender and transferred his assets to a designated address. The fraudulent app initially displayed profits to urge him to double his investment. He only realized he had been scammed after being denied a withdrawal, resulting in losses of over 13 million Hong Kong dollars.