Hong Kong retiree loses $840K in triple ‘crypto expert’ scam
Hong Kong police say a 66-year-old retiree was duped three times in six months by self-styled “crypto investment experts,” as scammers promised easy gains and help to recover losses.
A 66-year-old Hong Kong retiree lost 6.6 million Hong Kong dollars (roughly $840,000) in a string of three related crypto investment scams after repeatedly trusting self-proclaimed “virtual currency experts” who reached out via WhatsApp, according to Hong Kong police’s CyberDefender unit.
In a March 20 Facebook post, police said the victim was first approached in September 2025 by a scammer who cold messaged, claiming to be a “virtual currency investment expert” and promising steady gains if the victim followed his advice. The retiree then transferred $180,000 and deposited crypto into a wallet the scammer controlled, only to watch him disappear, prompting the filing of a police report.
The case shows how fraudsters can recycle the same victim through successive schemes that start with “guaranteed profit” pitches and escalate into offers to recover funds that have already been stolen.