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Crypto Scam in Hong Kong: Victim Loses HK$4 Million

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by Giorgi Kostiuk

a day ago


A recent incident in Hong Kong underscores the threat of fraud in the cryptocurrency sector. A local woman lost a significant amount of HK$4 million due to deceit.

Nature of the Incident

Hong Kong police confirmed that a local woman fell victim to a cryptocurrency scam. The victim lost HK$4 million through a virtual platform, relying on a fraudulent Telegram support.

Scammer Techniques

The fraud targeted experienced investors, deceiving them into transferring funds through fake customer support channels. The victim's reliance on unofficial support played a key role in the loss of funds.

Contact customer service through official channels and do not click on unknown links or disclose personal account passwords and verification codes.Hong Kong Police, Official Statement

Future Protection Measures

Incidents like this undermine investor trust and highlight the need for heightened caution. The increasing level of cryptocurrency fraud calls for improved security measures and user awareness.

Future fraud prevention requires stricter regulations and educational initiatives to protect digital financial participants. Historical fraud patterns emphasize the need for systemic safeguards to maintain market stability.

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