Hong Kong pensioner loses $1.7M in fake crypto app scam
- —The pensioner's losses exceeded HK$13 million
- —Scammers convinced him to buy USDT and ETH and send them to a fake platform
- —More than 40 investment fraud cases were recorded in Hong Kong in a week
- —Total reported losses exceeded HK$50 million
Why it matters: The rise in crypto scams using fake apps is increasing pressure on regulators and risks for retail investors.
Source: TokenPost