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    Home»Blockchain/Bitcoin»Hong Kong Men Lose HK$48M in Crypto Scams by Fake Officials
    Blockchain/Bitcoin

    Hong Kong Men Lose HK$48M in Crypto Scams by Fake Officials

    Two elderly victims transferred millions after being contacted by scammers posing as officials
    Fintech News Hong KongFintech News Hong KongSeptember 19, 20251 Min Read
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    Hong Kong Men Lose HK$48M in Crypto Scams by Fake Officials
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    Two men in their seventies in Hong Kong have been defrauded of HK$48 million (US$6.2 million) in separate scams involving fake officials and cryptocurrency transfers.

    GFTN Moving from Hype to Impact Preparing for an Agentic Future

    Police reported on Friday (September 19) that one victim, aged 77, received a call on June 7 from someone impersonating a mainland Chinese official, who alleged the man was involved in a cross-border criminal case and demanded payment to prove his innocence.

    According to the South China Morning Post, the victim followed the instructions and made 24 transfers totalling around HK$21.8 million to three designated local bank accounts between June 10 and August 15.

    The scammer later became unreachable, prompting the victim to suspect he had been defrauded and file a report on Sunday (September 14).

    A preliminary investigation has classified the case as obtaining property by deception.

    The Kowloon City division’s technology and financial crime squad is handling the matter, but no arrests have been made.

     

    Featured image credit: Edited by Fintech News Hong Kong, based on image by UveElena via Freepik

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