Elderly Hong Kong resident loses over HK$13 million in crypto scam
- —Losses exceeded HK$13 million
- —Scammers used a fake app showing fictitious profits
- —More than 40 fraud cases were recorded in Hong Kong in a week
- —Combined losses in these cases totaled about HK$50 million
Why it matters: Rising crypto fraud undermines trust in the industry and increases pressure on regulators in Asia.
Source: PANews