A Hong Kong insurance professional in her fifties lost HK$26 million, approximately US$3.3 million, in a romance scam linked to cryptocurrency. Seduced online by a man calling himself « Uncle », she was directed to a fake crypto trading application displaying more than 800 % in fictitious profits. Over six months, she handed over HK$4 million in cash to accomplices and made bank transfers totaling nearly HK$22 million to mule accounts. This case represents the largest loss among 25 romance scams reported by Hong Kong police between July 24 and 30, with combined damages approaching HK$70 million (US$8.9 million). The money was never actually invested in cryptocurrency: crypto served merely as a cover for a fraud operation relying on cash and bank transfers.
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