Hong Kong police said 25 romance-linked investment scam cases were recorded between July 24 and July 30, with total losses approaching HK$70 million, or about $9 million. One insurance agent alone lost about $3.3 million after being lured into investing through a fake cryptocurrency app. According to the police, these pig-butchering schemes typically begin on dating or social platforms, where scammers build emotional trust before directing victims to download bogus trading apps. The interfaces are designed to imitate well-known exchanges and display fabricated profits. By the time victims try to withdraw funds, the money can no longer be recovered. Hong Kong police added that online investment fraud has recently become the category with the largest monetary losses among reported cases.
Hong Kong police said 25 romance-linked investment scam cases were recorded between July 24 and July 30, with total losses approaching HK$70 million, or about $9 million.
In one case, an insurance agent lost about $3.3 million after being induced to invest through a fake cryptocurrency app.
Police said these pig-butchering scams typically start with scammers building emotional ties with victims through dating platforms before directing them to download fraudulent trading platforms. The apps imitate the interfaces of well-known exchanges and show fake profits. Once victims attempt to withdraw funds, the money is no longer recoverable.
Hong Kong police also said online investment fraud has recently become the case category with the largest financial losses.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
