Elderly Hong Kong Man Loses HK$5 Million in Crypto Scam
Bastillepost · 2 SOURCESabout 2 hours ago2 MIN
Summary
A Hong Kong retiree in his 80s lost more than HK$5 million in savings after clicking a fake pop-up advertisement and downloading a bogus cryptocurrency trading app called “Trust Wallet” in June 2026. The victim was persuaded by a fraudster posing as customer service to convert cash into cryptocurrency and transfer more than HK$5 million worth of Ether over about six weeks before discovering he could not withdraw the money.
Key Points
- Police anti-scam platform CyberDefender reported the case, saying the victim was an elderly retired man in his 80s targeted through a fake online pop-up link.
- After entering the spoofed link, he downloaded a fake cryptocurrency trading mobile app named “Trust Wallet” and registered an account on the platform.
- A scammer claiming to be the app’s customer service representative promoted cryptocurrency investment with promises of high returns and big profits.
- The victim withdrew money from his bank account, used a cryptocurrency exchange shop to convert cash into crypto, and deposited it into an e-wallet.
- Over one and a half months, he transferred more than HK$5 million in Ether to wallets designated by the fraudsters, then found withdrawals blocked and contact lost.
Why It Matters
Police said fraudsters often target older people’s retirement savings, and urged family members to pay closer attention to elderly relatives’ internet habits and financial situations. The authorities also advised the public to use the CyberDefender website or the Scameter app for scam-risk checks when in doubt.