A 66-year-old Hong Kong retiree misplaced 6.6 million Hong Kong {dollars} (roughly $840,000) in a string of three associated crypto funding scams after repeatedly trusting self-proclaimed “digital forex specialists” who reached out by way of WhatsApp, in line with Hong Kong police’s CyberDefender unit.
In a March 20 Fb submit, police mentioned the sufferer was first approached in September 2025 by a scammer who chilly messaged, claiming to be a “digital forex funding skilled” and promising regular positive aspects if the sufferer adopted his recommendation. The retiree then transferred $180,000 and deposited crypto right into a pockets the scammer managed, solely to look at him disappear, prompting the submitting of a police report.
The case exhibits how fraudsters can recycle the identical sufferer via successive schemes that begin with “assured revenue” pitches and escalate into presents to get better funds which have already been stolen.
“Life has no take two; however scams can have take three,” the CyberDefender staff wrote, warning that real professionals don’t depend on random outreach and that phrases similar to “assured returns” and “inside info” are basic pink flags.
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Triple “crypto skilled” rip-off drains retiree’s financial savings
The retiree then transferred $180,000 and deposited crypto right into a pockets the scammer managed, solely to look at him disappear, prompting the sufferer to file a police report.
Unwilling to just accept the loss, the sufferer later searched on-line for an additional “crypto skilled” who claimed he may assist get better the lacking funds, however then demanded $75,000 as a safety deposit. After the sufferer paid, that skilled additionally vanished.
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In January, a 3rd supposed specialist messaged the retiree on WhatsApp providing to reclaim each prior losses if the sufferer purchased $585,000 in crypto and despatched it to a specified deal with. As soon as the sufferer complied, that scammer disappeared as effectively, bringing the whole losses over roughly six months to roughly $840,000.
Incident falls amid rising Web3 fraud
The case lands towards a broader backdrop of mounting crypto-related crime. Web3 platforms noticed about $3.95 billion in losses in 2025, with state-linked hackers and weak key safety driving a lot of the injury, in line with safety agency Hacken.
Authorities worldwide have additionally flagged new waves of phishing and funding fraud, from the FBI’s current warning over pretend FBI tokens on Tron to India’s GainBitcoin probe and US efforts to forfeit $3.4 million in Tether tied to a multi-state funding rip-off.
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