Hong Kong Woman Arrested for Crypto Scam Targeting Landlords

A 67-year-old woman in Hong Kong has been arrested by police for her alleged involvement in a cryptocurrency investment scam that defrauded two property owners of over half a million dollars. The suspect, who is believed to be a core member of the syndicate, contacted the victims through online advertisements for rental properties and offered to pay rent in advance.

The woman then introduced a high-return cryptocurrency investment opportunity to the victims, providing them with a mobile phone preloaded with a genuine cryptocurrency investment app. However, the app had been configured with fraudulent links that secretly gave the syndicate control of the victims' cryptocurrency wallets.

One victim lost over HK$1 million (US$120,000), while the other lost more than HK$3 million (US$360,000). The suspect is expected to be charged with obtaining property by deception. This arrest comes amid a wider crackdown on cryptocurrency fraud in Hong Kong, following the 'Fun Coffee' investment scam that has affected thousands of people.