Hong Kong Authorities Pursue Scammers in HK$1M Crypto Heist

• Cryptocurrency scam in Hong Kong: accountant loses HK$1 million in shop fraud.
• Fraudsters trick accountant into transferring HK$1 million in digital coins.
• HK authorities are hunting for these cryptocurrency scammers.

Hong Kong authorities are pursuing a group of fraudsters involved in a cryptocurrency scam that resulted in an accountant losing HK$1 million (US$127,750).

The incident occurred at a shop located in the basement of Chevalier House on Chatham Road South in Tsim Sha Tsui. Detectives are currently investigating whether the fraud syndicate specifically established the shop to target the 29-year-old woman.

According to a reliable source familiar with the case, the accountant came across an Instagram post promoting digital coin trading at a favorable exchange rate.

The post provided contact information, which the victim used to get in touch with the fraudster. Posing as an employee of the shop, the scammer engaged in communication with the accountant and arranged a meeting at the shop to facilitate the transaction on Sunday evening.

The imposter presented a stack of HK$1,000 banknotes on the counter during the meeting while posing as a staff member to complete the transaction. In order to receive the promised HK$1 million, the victim followed the instructions and transferred 128,040 Tether tokens to the specified e-wallet account. But things changed when the “employee” asked the victim to wait outside the store for a while, stating that they had to use the restroom.

It was at this point that the victim realized she had fallen victim to a scam. The imposter failed to return, and attempts to contact him proved futile. Realizing the severity of the situation, the victim promptly contacted the police, reporting the incident around 10 p.m. on Sunday.

The Hong Kong police are now actively working to apprehend the fraudsters responsible for this cryptocurrency scam. Investigations are underway to determine the extent of the syndicate’s activities and bring them to justice.