Hong Kong tech crimes dip as hacking losses more than double

Reported technology crimes in Hong Kong fell 6.9 per cent in 2025, yet losses from hacking more than doubled to HK$62.6 million. Police officials linked the rise to high-value attacks on financial institutions and cryptocurrency platforms.

Police recorded 31,571 technology crime cases last year, down from 33,903 in 2024. The total included 52 hacking incidents and 43 ransomware reports, both categories showing declines from the previous year.

Carmen Leung Oi-lam, senior superintendent of the Cybersecurity and Technology Crime Bureau, said the financial impact remained severe. “Even though [hacking and ransomware] cases may seem to only take up 0.3 per cent of all technology crime, each case can cause a serious impact on the organisations affected,” she warned.

Authorities urged companies to strengthen cybersecurity checks on web application systems and digital assets. The figures were released on 14 May 2026.

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Hong Kong police are investigating an attack and robbery in which a 25-year-old mainland Chinese man lost about HK$6 million (US$767,070) in cryptocurrency and silver. The incident was reported at 3.52am on Saturday, with the victim attacked by three men and a woman at a hotel near Man Lok Street in Hung Hom. The suspects later took him to a unit in an industrial building and seized silver items worth HK$1 million; no arrests have been made and a manhunt is underway.

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China's Supreme People's Court has warned of stricter penalties for using cryptocurrencies to launder money and evade capital controls. Chief Justice Zhang Jun made the statement in the court's annual report to the National People's Congress on March 9. The move reflects Beijing's ongoing crackdown on technology-enabled financial crimes.

A new report warns that adversaries are harvesting encrypted data today for future decryption using quantum computers, posing trillions in economic risks to banks. The Citi Institute estimates a single such attack could jeopardize $2 trillion to $3.3 trillion of U.S. GDP. Financial institutions must accelerate post-quantum preparations amid rising cyberattacks.

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South Korean prosecutors in Gwangju have successfully recovered 320 bitcoin, valued at $22 million, that were lost due to a phishing scam. The incident occurred during an audit when staff used a fraudulent online wallet checking tool. Officials have identified the operator of the phishing site and blocked related transactions.

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