Retired octogenarian loses HK$5 million in fake crypto app scam
On.cc · 2 SOURCESabout 1 hour ago2 MIN
Summary
A retired Hong Kong man in his 80s was duped into downloading a fake cryptocurrency trading app called “Trust Wallet” after clicking a bogus pop-up advertisement link in June. Over the following month and a half, he converted cash into Ether and transferred more than HK$5 million worth of the cryptocurrency to wallets designated by fraudsters before discovering he could not withdraw the money.
Key Points
- Police said the victim clicked a fake link in a pop-up advertisement while browsing online in June and then registered an account on the bogus app.
- A scammer posing as customer service for the platform promoted cryptocurrency investment with promises of high returns and big profits.
- The retiree followed instructions to withdraw money from his bank account and use a cryptocurrency exchange shop to convert cash into digital assets.
- During roughly six weeks, he made multiple transfers of Ether worth more than HK$5 million to electronic wallets specified by the fraudsters.
- He only realised he had been cheated after he was unable to withdraw funds from the fake app and the supposed customer service contact disappeared.
Why It Matters
Police, through the CyberDefender Facebook page, urged families to pay closer attention to elderly relatives’ internet habits and financial situations, saying care from relatives is the first line of defence against scams. The case also underlines the risk of fake investment platforms that use impersonated apps, online ads and supposed support staff to build trust before extracting large transfers.