A Hong Kong man in his 70s lost about HK$17.2 million in a cryptocurrency investment scam. According to Foresight News, citing reports by Oriental Daily, the man left his contact details through a YouTube investment advertisement in June this year and was contacted by a fraudster posing as an investment adviser. He was added to a WhatsApp group and, following the adviser’s instructions, opened an account to buy and trade virtual currencies.

From August to October, he transferred USDT and ETH worth more than HK$18 million to digital wallets provided by the scammers. After his son noticed suspicious activity in early October, the man tried to withdraw his funds and retrieved only about HK$800,000 worth of USDT. The platform then rejected…