HK Woman Loses HK21.5 Million in Cryptocurrency Scam

A 60-year-old Hong Kong woman has fallen victim to a cryptocurrency scam, losing over HK$21 million (US$2.7 million).

The scammer, posing as an investment expert, met the victim online on the 'Baby Kingdom' forum and convinced her to invest in a fake cryptocurrency platform.

The platform promised high returns, and the victim was duped into remitting HK$19 million to the fake website.

After the initial investment, an accomplice posed as a platform compliance officer, claiming the victim's account was involved in money laundering and demanding an additional HK$1.2 million to clear her name.

The victim transferred the funds, unaware of the scam.