An elderly man in his seventies in Hong Kong fell victim to a cryptocurrency investment scam, losing over HK$13 million.

BlockBeats news, September 14, according to Hong Kong Commercial Daily, over the past week, Hong Kong police received more than 40 investment fraud cases, with total losses exceeding HK$50 million. Among them, a man in his seventies received a陌生 message on WhatsApp from someone claiming to be a "crypto investment expert" from Singapore. Following instructions, he opened a wallet and purchased USDT and ETH, then downloaded a fake investment app provided by the other party and transferred assets to a designated address. The fake app initially showed profits to encourage him to double his investment. When he tried to withdraw, he was refused and only then realized he had been scammed, losing over HK$13 million.