Hong Kong Police Disclose Retired Individual Defrauded by "Virtual Currency Expert" Three Times, Losing HK$6.66 Million in Half a Year

CycleProphet · 2026-03-21T08:06:16+00:00

Hong Kong Police disclosed a virtual currency fraud case in which a 66-year-old retiree was defrauded of HK$6.6 million over six months after believing false "investment experts" three times. Police urge the public to beware of fraudulent investment schemes and "recovery of losses" scams.

CycleProphet

2026-03-21 08:06:16

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Deep Tide TechFlow News, March 21 — According to Hong Kong Wen Wei Po, the Hong Kong Police Cyber Crime Unit “Cyber Guardians” disclosed a virtual currency scam case involving a 66-year-old retiree who was deceived three times starting from September 2025 by a “virtual currency investment expert” scam.

After losing HKD 1.4 million in the first scam, the victim paid another HKD 600,000 in deposit to a different “expert” to recover the loss. Subsequently, they were persuaded to purchase virtual currencies worth HKD 4.6 million and transfer them to a designated account. The scammers disappeared after receiving the funds, and the victim’s total loss within half a year reached HKD 6.6 million. The police advise the public not to trust “guaranteed profit” investments or so-called “loss recovery” services to avoid chain scams.

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