Hong Kong septuagenarian loses over HK$13 million in crypto investment scam

Hong Kong police reported over 40 investment fraud cases in the past week, totaling more than HK$50 million in losses. A 70-year-old victim was targeted via WhatsApp by an individual posing as a Singaporean crypto expert. The victim was instructed to open a wallet, purchase USDT and ETH, and transfer assets into a fraudulent investment app. After the fake app displayed artificial profits, the victim was unable to withdraw funds and realized they had been scammed, resulting in a loss of over HK$13 million.