HK Woman Loses $3.3M to Romance Scam via Fake Crypto App

A Hong Kong-based insurance agent lost over $3.3 million to a crypto romance scam that unfolded over six months. The victim, in her 50s, met 'Uncle' online through a contact interested in buying insurance. Uncle claimed investment expertise and convinced the woman to download a fake crypto trading app.

The scammer's accomplices received cash and wire transfers totaling nearly HK$26 million ($3.4 million) from the victim. The app showed paper gains exceeding 800%, but when she tried to withdraw her funds, the request was denied, and contact was severed.

This case is one of 25 similar romance scams reported by Hong Kong police in a single week, with combined losses near $8.9 million. Authorities have moved against these networks elsewhere, including an FBI-led task force that arrested 276 suspects and disrupted nine scam centers tied to crypto investment fraud.