A 66-year-old Hong Kong retiree lost approximately $840,000 in three consecutive cryptocurrency scams, as reported by the Hong Kong police’s CyberDefender unit. The victim was first contacted via WhatsApp in September 2025 by a scammer posing as a “virtual currency investment expert” who disappeared after the transfer of $180,000 and cryptocurrency. The retiree was then defrauded twice more by individuals claiming they could recover the stolen funds, ultimately losing the total sum over six months.
A Hong Kong retiree was defrauded of roughly $840,000 in a triple cryptocurrency investment scam over six months. The Hong Kong police’s CyberDefender unit detailed the case in a March 20 Facebook post, noting the first contact occurred in September 2025.
A scammer cold-messaged the 66-year-old on WhatsApp, claiming to be a “virtual currency investment expert.” The victim subsequently transferred $180,000 and deposited cryptocurrency into a wallet the scammer controlled before the fraudster disappeared.
“Life has no take two; but scams can have take three,” the CyberDefender team wrote, warning of classic red flags. They stated that genuine professionals do not rely on random outreach and that phrases such as “guaranteed returns” are indicators of fraud.
The victim later searched for another “crypto expert” online who promised to recover the funds. This individual then demanded a $75,000 security deposit before also vanishing, according to the police report.
In January, a third scammer contacted the retiree via WhatsApp offering to reclaim all prior losses. The victim bought $585,000 in cryptocurrency and sent it to a specified address, after which the scammer disappeared, bringing total losses to $840,000.
Authorities noted Web3 platforms saw about $3.95 billion in losses in 2025, according to security firm Hacken. Global law enforcement has flagged new waves of phishing and investment fraud, including efforts to forfeit $3.4 million in Tether tied to a multi-state scam.
