How Did the Scam Unfold?

A 66-year-old retiree in Hong Kong lost 6.6 million Hong Kong dollars, or roughly $840,000, after falling victim to three consecutive crypto investment scams, according to the city’s CyberDefender unit. The case highlights how fraud schemes can build on each other, repeatedly targeting the same individual over time.

The first approach came in September 2025, when a scammer contacted the victim through WhatsApp, claiming to be a “virtual currency investment expert” and offering steady returns. The retiree transferred $180,000 and sent cryptocurrency to a wallet controlled by the fraudster, who then disappeared.

After reporting the incident to police, the victim sought help online and was contacted by…