An elderly person in his eighties in Hong Kong fell for a fake cryptocurrency app scam: losing over HK$5 million in a month and a half

Comparing news, Hong Kong police recently revealed a cryptocurrency investment scam targeting the elderly. In June of this year, a retired man in his 80s clicked on a fake link in an online pop-up ad and downloaded a fake AppTrust Wallet posing as a cryptocurrency platform.

Afterwards, the scammers impersonated the platform's customer service to lure them to invest using high returns and big money as bait. The victim followed the instructions to withdraw money from the bank and exchanged the cash for cryptocurrency through a cryptocurrency exchange shop. Over the next month and a half, he transferred more than HK$5 million worth of ETH to the wallet designated by the scammer several times. It wasn't until the funds could not be withdrawn from the fake app and the customer service was disconnected that the scam was discovered.

The Hong Kong Police warned that families should pay attention to the internet habits and financial situation of the elderly, take the initiative to share anti-fraud information, and be wary of investment scams carried out through fake apps and promises of high returns.