Retired Hong Kong woman loses HK$10m in crypto scam
Thestandard · 1 SOURCESabout 1 hour ago1 MIN
Summary
A 64-year-old retired businesswoman in Hong Kong has lost HK$10 million in a sophisticated cryptocurrency scam after trusting a man who first contacted her about renting a property she had advertised on Facebook. Police said the fraudster later posed as a cryptocurrency investment expert, persuaded her to buy digital assets, and emptied her wallet after obtaining her credentials during the setup process
Key Points
- The victim is a 64-year-old retired businesswoman who owns multiple properties, shops and parking spaces in Hong Kong
- The scam began in May after she posted a property rental advertisement on Facebook and was contacted on WhatsApp by a supposed tenant
- Although no tenancy deal was completed, the suspect built trust through friendly chats and presented himself as a cryptocurrency investment expert
- The woman followed instructions to set up a cryptocurrency wallet, during which the scammer stole her wallet credentials and password
- She was then persuaded to buy HK$10 million worth of cryptocurrency in cash, which was transferred out immediately after deposit
Why It Matters
Police used the case to warn that investment scams can grow out of ordinary online interactions, including property rentals, trading goods and making new internet acquaintances. Authorities also stressed that wallet passwords, recovery phrases and private keys should be treated like vault keys and never shared with anyone