How the Scheme Began

A 64-year-old retired businesswoman who owns several properties, shops and parking spaces in Hong Kong has lost HK$10 million to a sophisticated cryptocurrency scam. The case began in May when she posted a rental advertisement for one of her properties on Facebook.

A person claiming to be interested in renting the property contacted her through WhatsApp. Although no rental agreement was ever signed, the individual gradually established a friendly online relationship with the woman and gained her confidence as an acquaintance.

The Investment Pitch and Theft

During their exchanges the contact presented himself as an expert in cryptocurrency investing. He offered to share strategies that he said could help her build substantial wealth. Trusting the relationship, the woman followed his directions to create a cryptocurrency wallet.

Without her knowledge, the scammer obtained her wallet credentials and password while she was setting it up. He then convinced her to buy cryptocurrency valued at HK$10 million using cash. Once the funds entered the wallet, the fraudster transferred the entire amount out at once. The victim discovered the loss only when she checked the wallet and found the balance reduced to zero.

Police Warning to the Public

Hong Kong police have issued a public alert through their CyberDefender platform. Officers cautioned residents to remain careful about investment proposals that start from everyday online contacts, including property rentals, buying or selling goods, or forming new digital friendships.

Authorities stated that cryptocurrency wallet passwords, recovery phrases and private keys function like the keys to a personal safe and must never be shared with anyone. They further advised that even people with investment experience should remain cautious when offered high returns or professional-sounding guidance.

Anyone who has concerns about a possible scam is encouraged to contact the police anti-scam helpline or use official online risk-assessment tools.