In the first quarter of 2023, Hong Kong's growing cryptocurrency fraud police handled 113 online fraud cases related to cryptocurrencies, blocking transactions of up to 158 million Hong Kong dollars – HKD ( 20.5 million USD) from foreign victims.
Information from SCMP said that two elderly citizens in Hong Kong have just lost 10 million HKD (1.3 million USD) in personal investment fraud cases related to cryptocurrency and stocks in China. continent.
The first case is that a 66-year-old businesswoman was scammed via WhatsApp, when the scammer posed as a cryptocurrency expert, advised her to invest in Tether (USDT) and promised attractive profits.
To gain her trust, the scammer paid HKD 75,000 in the first transaction before stealing HKD 4.6 million (590,000 USDT) from her personal wallet between January 27 and March 31. This is not a new tactic, but older victims are being targeted for this type of crime.
Investigation showed that the victim accidentally provided personal information to the scammers after filling out an online form at their request, this is a way for them to collect confidential information from the victim. core.
Online investment fraud crimes in Hong Kong are on the rise.
The second victim was a 71-year-old man who lost HKD 5.15 million (USD 740,000). The scammer posed as an employee of a financial investment platform, convincing him to download a fake cryptocurrency trading platform and invest in stocks of companies in mainland China.
The victim then transferred money to 9 bank accounts as instructed. This person only discovered he had been scammed when he could not access the platform to withdraw money.
Online fraud is on the rise
The above two cases represent the tip of the iceberg regarding online investment fraud in Hong Kong. According to the Police, reported cases of this type of fraud increased by 92% in 2022. Meanwhile, in the first quarter of 2023, the police handled 113 online fraud cases related to cryptocurrency, preventing blocked transactions of 158 million HKD (20.5 million USD) of foreign victims.
In addition, the rate of employment fraud in the city also increased in April, with 196 victims, losing about 40 million Hong Kong dollars (more than 5 million USD) in the same scam.
The increase in online investment fraud crimes poses a challenge for Hong Kong authorities, requiring them to make more efforts to protect investors.
As Hong Kong opens its doors to cryptocurrency companies in a bid to regain its footing, it recently launched an app called Scameter to help users identify potential scams.
Synthetic PCBs
