A woman from Hong Kong lost nearly $1 million in a crypto scam that promised “AI-powered trading.”

Her story, as shocking as it may be, is a clear sign of how scams are evolving and why it’s more important than ever to stay informed.

 Key takeaways

• A Hong Kong woman lost HK$7.7 million ($982,000) after being lured into an “AI crypto trading” scam
• Scammers used Telegram and fake platforms to build trust and simulate profits
• 17 transactions were made before the victim realized something was wrong
• Dozens of similar cases were reported in a short time frame
• Crypto scams often lead to follow-up fraud, including fake recovery services

How the scam began

It came in a message.

The victim was contacted on Telegram by someone posing as an…