Fake romance crypto investment scams net $9 million in a single week in Hong Kong, as Malaysian authorities lose it over a crypto conference’s after-party.
HONG KONG
An insurance agent in Hong Kong was fleeced out of $3.3 million after her fake online boyfriend convinced her to invest in a fraudulent crypto application.
There were 25 similar romance-linked fraud cases reported to Hong Kong police between July 24 and July 30, which collectively defrauded lonely hearts of $9 million.
Scammers typically connect with victims through dating or messaging apps and sometimes spend months building a rapport before dropping the idea of investing in crypto.
They direct victims to a site that appears to be a legitimate trading application. It displays fake profits to encourage victims to invest more and more funds. Victims typically realize they have been scammed when they are unable to withdraw funds.
Hong Kong news in brief
— Hong Kong-licensed cryptocurrency exchange HashKey Exchange received approval from JPMorgan Chase to open a client money account, its parent company& said.
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