Hong Kong Businessman Loses $2 Million in Crypto Investment Scam on Facebook

05/22 15:20

A Hong Kong company executive has fallen victim to a crypto investment scam, resulting in a loss of over HK$16 million (approximately US$2 million). The director was lured into setting up an account on a fraudulent app by an individual posing as an investment expert on Facebook. The scammer vanished with the victim's funds, leaving the victim in a state of financial jeopardy. The incident highlights the growing menace of crypto scams in Hong Kong, with a significant surge in fraudulent activities related to digital currencies reported in the previous year alone.
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