Hong Kong company director latest victim in string of cryptocurrency scams, cheated out of more than HK$16 million
- Businessman, 47, befriended bogus investment expert online and was convinced to set up account on fake app and transfer money
- Public warned to be wary of investment apps with fake data controlled by fraudsters
A director of a Hong Kong company has become the latest victim in a string of cryptocurrency investment scams after being swindled out of more than HK$16 million (US$2 million).
Police on Monday said the 47-year-old businessman was befriended on Facebook by a scammer posing as an investment expert in March. The victim and con artist then continued to communicate on WhatsApp.
According to the force, the man was persuaded to set up an account on a bogus app to invest in cryptocurrency.
“Between April 19 and May 13, he was lured into transferring HK$16.23 million into 16 designated bank accounts in 39 transactions,” a source familiar with the case said.
The director realised he had been cheated when he was unable to withdraw the supposed profits and the bogus expert became uncontactable. He was also blocked from accessing his investment account.
The victim sought police help last Wednesday.
No arrests have been made. Officers are hunting the holders of the bank accounts involved, with the case classified as “obtaining property by deception” – an offence punishable by up to 10 years in jail under the Theft Ordinance.