Retired Businesswoman Loses HK$10 Million in Sophisticated Cryptocurrency Scam

A retired Hong Kong businesswoman lost HK$10 million in a sophisticated cryptocurrency scam. The woman, who owns multiple properties and shops, was targeted by an individual who posed as a prospective tenant on Facebook in May.

The scammer built a friendly rapport with the victim through WhatsApp conversations, eventually gaining her trust as an online acquaintance. He claimed to be a cryptocurrency investment expert and offered to teach her valuable investment strategies.

The woman followed instructions to set up a cryptocurrency wallet, but unbeknownst to her, the scammer stole her wallet credentials and password during the setup process. He then persuaded her to purchase HK$10 million worth of cryptocurrency in cash, which he immediately transferred out of her wallet once deposited.