An experienced insurance agent from Hong Kong has become a victim of a romantic investment scam and lost more than HK$26 million (about $3.3 million). Local police reported this.
According to law enforcement, in just the period from July 24 to 30, they received 25 reports of investment fraud related to online romances. The total losses of the victims reached nearly HK$70 million.
Scammers Used Romantic Relationships to Promote Fake Crypto Investments
Last year, an acquaintance introduced the victim to a woman who allegedly sought insurance advice. Later, she introduced a man nicknamed Uncle, who supposedly worked in car sales. Communication continued on WhatsApp.
According to police information, the interlocutor gradually gained the victim's trust, regularly showing care and attention. Subsequently, a romantic relationship developed between them online.
After this, Uncle claimed to have successful investment experience and suggested investing funds in crypto assets. He convinced the man to install an application allegedly for a cryptocurrency investment platform and also introduced him to a person who called himself its owner and offered help with managing the crypto wallet.
Over approximately six months, the victim personally handed over more than HK$4 million in cash to the scammers in different districts of Hong Kong and also transferred nearly HK$22 million to bank accounts provided by the criminals.
Suspicions arose only when the fake application showed a return of over 800%, and an attempt to withdraw funds ended in refusal. After this, the "romantic partner" and the so-called expert simultaneously ceased all communication.
Police emphasized that even people with financial experience can become victims of fraud if criminals use emotional pressure and gradually gain trust.
Earlier, in the US, over 61 million USDT were seized due to a "romantic" fraud scheme.
