Hong Kong retiree loses HK$6.6M in triple crypto scam

A Hong Kong retiree lost HK$6.6 million in three consecutive crypto scams after being targeted by fraudsters posing as investment experts and recovery agents. Police urge caution.

A 66-year-old Hong Kong retiree lost HK$6.6 million (about $840,000) over six months after falling victim to three consecutive cryptocurrency scams. The ordeal began in September 2025, when scammers posing as crypto investment experts contacted the retiree via WhatsApp, promising high returns. After transferring an initial sum, the scammers vanished. In an attempt to recover the losses, the retiree was approached by others claiming they could help retrieve the stolen funds. Unfortunately, these were also scams, leading to further financial loss. This cycle repeated, with each scammer using similar tactics of false promises and recovery offers. Hong Kong police disclosed the case, warning the public not to trust guaranteed investment opportunities or services claiming to recover lost funds, as these are often fraudulent. Authorities urge vigilance and advise against transferring money to unverified individuals online.