A woman in Hong Kong was scammed out of 7.1 million Hong Kong dollars due to a virtual currency investment fraud

ChainCatcher news, according to Sing Tao Daily, the Hong Kong police received a report last Tuesday (12th) from a 46-year-old local woman, stating that she had received a message on Instagram recommending her to invest in virtual currency through a website. The reporter followed the instructions to create an account on the website and transferred a total of approximately HKD 7.1 million to 15 designated local bank accounts for investment in 25 transactions between August 19, 2022, and March 4, 2023, without receiving any returns. The reporter later failed to withdraw money through the website and could not contact the relevant individuals, suspecting she had been scammed, and thus reported the case. The victim suffered a loss of approximately HKD 7.1 million.

After preliminary investigation, the case is classified as obtaining property by deception and has been handed over to the third team of the Western District Criminal Investigation Team for follow-up, with no arrests made yet.
The police reiterated that anyone who violates Section 12 of the Theft Ordinance (Cap. 210) of Hong Kong law, "obtaining property by deception," faces a maximum penalty of ten years' imprisonment, and citizens should not test the law.