{"id":322812,"date":"2023-05-04T19:09:03","date_gmt":"2023-05-04T18:09:03","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=322812"},"modified":"2023-05-04T19:09:03","modified_gmt":"2023-05-04T18:09:03","slug":"crypto-scammers-steal-over-1m-from-2-elderly-people-in-hong-kong","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/crypto-scammers-steal-over-1m-from-2-elderly-people-in-hong-kong\/","title":{"rendered":"Crypto scammers steal over $1M from 2 elderly people in Hong Kong"},"content":{"rendered":"<p>Two senior Hong Kong citizens lost $1.3 million (HK$10 million) in separate scam cases involving cryptocurrencies and mainland Chinese stocks, SCMP reported on May 4.<\/p>\n<p>In one case, a 66-year-old businesswoman was scammed via WhatsApp. The scammer posed as a cryptocurrency expert, advising her to invest in Tether (<a href=\"https:\/\/cryptoslate.com\/coins\/tether\/\">USDT<\/a>) with the promise of substantial returns.<\/p>\n<p>According to police investigations, the victim unwittingly gave her personal information to the scammers after filling out an online form. The &#8220;expert&#8221; told her they needed this information to pay her profits. However, the hackers used this form to collect confidential information from their victims.<\/p>\n<p>To gain her trust, the scammers gave her HK$75,000 on the first transaction before stealing HK$4.6 million (590 Tether ) from her wallet. The funds were stolen between January 27 and March 31.<\/p>\n<h2>Investment fraud<\/h2>\n<p>Meanwhile, the other victim was a 71-year-old man who lost HK$5.15 million to investment fraud.<\/p>\n<p>According to the <a href=\"https:\/\/www.scmp.com\/news\/hong-kong\/law-and-crime\/article\/3219373\/2-hongkongers-lose-hk10-million-total-cryptocurrency-mainland-chinese-stock-scams?module=live&pgtype=homepage\">report<\/a>, the fraudster posed as a financial investment platform employee who convinced him\u00a0to download a fake trading platform and invest in the stocks of mainland Chinese companies. The victim transferred the funds to 9 bank accounts based on instructions.<\/p>\n<p>The person only discovered he had been scammed when he could not access the platform to withdraw his money.<\/p>\n<h2>Online fraud rising<\/h2>\n<p>These 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 compared to the previous year.<\/p>\n<p>Additionally, the rate of employment scams in the city has increased, with 196 people losing HK$40 million (over $5 million) to the same scam in the first two weeks of April.<\/p>\n<p>Meanwhile, the prevalence of these scams has forced the authorities to double their efforts. Hong Kong has <a href=\"https:\/\/eshop.hk.chinamobile.com\/en\/corporate_information\/Customer_Service\/service_user_guide\/service-and-antifraud-alerts\/20221011.html\">launched<\/a> an application called Scameter to help users determine the risk of fraud.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two senior Hong Kong citizens lost $1.3 million (HK$10 million) in separate scam cases involving cryptocurrencies and mainland Chinese stocks, SCMP reported on May 4. In one case, a 66-year-old businesswoman was scammed via WhatsApp. The scammer posed as a cryptocurrency expert, advising her to invest in Tether (USDT) with the promise of substantial returns. [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":322825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76799],"tags":[77277,78147],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto scammers steal over $1M from 2 elderly people in Hong Kong<\/title>\n<meta name=\"description\" content=\"According to the Hong Kong Police, reported cases of this type of online fraud increased by 92% in 2022 compared to the previous year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/crypto-scammers-steal-over-1m-from-2-elderly-people-in-hong-kong\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto scammers steal over $1M from 2 elderly people in Hong Kong\" \/>\n<meta property=\"og:description\" content=\"According to the Hong Kong Police, reported cases of this type of online fraud increased by 92% in 2022 compared to the previous year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/crypto-scammers-steal-over-1m-from-2-elderly-people-in-hong-kong\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-04T18:09:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/crypto-scammer-hongkong-.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"619\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/crypto-scammers-steal-over-1m-from-2-elderly-people-in-hong-kong\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/crypto-scammers-steal-over-1m-from-2-elderly-people-in-hong-kong\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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