Hong Kong Retiree Falls Prey to Repeated Cryptocurrency Scams, Loses HK$6.6 million

A recent case highlights the risks of cryptocurrency scams in Hong Kong, where a 66-year-old retiree has lost HK$6.6 million to scammers posing as virtual currency investment experts.

The victim fell for the same scam three times between September 2025 and January 2026, transferring funds through WhatsApp messages from unknown individuals claiming expertise in virtual currency investments.

Hong Kong police have issued warnings through their 'Net Keeper' cybercrime awareness platform, advising the public to never transfer cryptocurrency or money to unverified strangers' accounts online. The authorities also warned against trusting claims of guaranteed returns or access to inside information, which are common phrases used by scammers to establish false credibility.