Hong Kong retiree loses $840K in triple crypto scam

A 66-year-old retiree in Hong Kong has lost approximately $840,000 (HK$6.6 million) after falling victim to fake crypto investment experts in three consecutive scams, Cointelegraph reported. According to local police, the victim was first contacted on WhatsApp by fraudsters and sent them funds, after which they ceased all communication. The victim was then scammed twice more by others who promised to help recover the initial losses, leading to additional payments of $75,000 and $585,000. Police have issued a warning, stating that promises of guaranteed high returns and inside information are typical scam tactics. According to blockchain security firm Hacken, losses from Web3-related scams amounted to about $3.95 billion in 2025.