2 Hongkongers lose HK$10 million in total in cryptocurrency, mainland Chinese stock scams
- Pair swindled in separate deception cases, with bogus online platforms used to trick victims in both scams
- Police handled 1,884 cases of online investment fraud last year, up 92 per cent from 980 logged in 2021
Two Hongkongers have lost nearly HK$10 million (US$1.3 million) in total after being lured into investing in cryptocurrency and mainland Chinese stocks in separate cases.
The insider said the victim was lured into investing in the digital coin Tether with the promise of high returns.
An investigation found the account details of the victim’s cryptocurrency wallet were stolen after she was coaxed into clicking a hyperlink and entering personal information, the source said.
She was told the so-called expert needed the details to pay her the profit she had made. But the hyperlink led her to an online platform controlled by scammers, who collected her confidential data.
“In the first transaction, she was given HK$78,000 in profit,” he said, adding that the payment was used to convince her it was a genuine investment and help lower her guard.
She realised it was a scam when she discovered that more than 590,000 Tether coins, which were worth more than HK$4.6 million, had been transferred to another cryptocurrency wallet in 15 transactions between January 27 and March 31.
