A Hong Kong woman has lost more than HK$1 million (US$127,636) after being lured into a fraudulent cryptocurrency scheme disguised as an artificial intelligence-powered trading app, with police reporting that over 70 similar scams had been recorded in the past week alone, resulting in total losses exceeding HK$50 million. Details released on the police’s CyberDefender page on Tuesday showed that the victim first spotted a fake investment advertisement on Facebook, which led her to a WhatsApp...
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Hong Kong woman duped out of HK$1 million by fake AI investment app
South China Morning Post
May 26, 2026 at 10:10 AM
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A Hong Kong woman has lost more than HK$1 million (US$127,636) after being lured into a fraudulent cryptocurrency scheme disguised as an artificial intelligence-powered trading app, with police reporting that over 70 similar scams had been recorded in the past week alone, resulting in total losses exceeding HK$50 million. Details released on the police’s CyberDefender page on Tuesday showed that the victim first spotted a fake investment advertisement on Facebook, which led her to a WhatsApp...