A Hong Kong woman reportedly lost around $3.3 million after an online romantic partner directed her to a fraudulent cryptocurrency investment platform. The 50-year-old insurance professional met the person online, who presented himself as a car dealer, and after establishing a romantic relationship, persuaded her to invest in virtual currencies through an unfamiliar platform. The victim continued transferring money after the platform displayed rising account balances, with claimed returns exceeding 800% by last month. However, the platform denied her withdrawal request, and the purported romantic partner and an alleged investment adviser stopped responding, leaving the woman with cumulative losses exceeding $3.3 million.
Investment Fraud Warning
Hong Kong authorities recorded 25 investment fraud cases involving online romantic relationships during the week ending July 30, with reported losses totaling nearly $9 million. The case follows a common pattern in relationship-based cryptocurrency fraud, where scammers build trust through dating applications, social media, or messaging services before introducing an investment opportunity.
Prevention and Advice
Hong Kong police urged investors to treat investment recommendations from newly established online contacts with caution, warning signs including guaranteed returns, unusually high profits, and requests to transfer funds through an unfamiliar platform. The FBI also advises victims to stop sending money immediately and preserve wallet addresses, transaction hashes, platform domains, and communications.
