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Over 81 Online Investment Scam Cases in a Week; Victim Tricked Into Opening 'Cold Wallet' for a Year, Losing Over HKD25 million
Police's "CyberDefender" social media platform announced that over the past week, authorities received more than 81 reports of online investment scams. In one case, a victim was de...
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Over 81 Online Investment Scam Cases in a Week; Victim Tricked Into Opening 'Cold Wallet' for a Year, Losing Over HKD25 million
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Police's "CyberDefender" social media platform announced that over the past week, authorities received more than 81 reports of online investment scams. In one case, a victim was deceived for a full year, suffering total losses of more than HKD25 million. A retiree mistakenly trusted a fraudulent "investment expert" and followed instructions to "invest" in the cryptocurrency USDC.

The scammer induced the victim to download the SafePal app and set up a cold wallet. Within one year, the victim repeatedly exchanged cash for USDC at physical cryptocurrency exchange shops and deposited the funds into the wallet.

Subsequently, the scammer sent a link to a fake website and instructed the victim to "connect" the wallet to the site. During the process, the victim unknowingly authorized the fake website to transfer the USDC out of the wallet. Recently, the scammer further persuaded the victim to transfer several hundred thousand Hong Kong dollars via online banking. The bank detected suspicious activity in the account and notified the Anti-Deception Coordination Centre, leading to the exposure of the scam.

Police noted that the fake website had a suspicious domain name and repeatedly prompted requests to "connect wallet". Authorities reminded the public that if someone asks them to use the built-in browser in a wallet app to connect to an unknown website, it is highly likely an attempt to obtain authorization or wallet private keys in order to secretly transfer assets. (da/u)

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