Hong Kong woman loses over HK$1 million in AI app scam

Kiswahili

A Hong Kong woman lost more than HK$1 million after being lured into a fraudulent cryptocurrency scheme through a fake artificial intelligence-powered trading app. Police recorded over 70 similar investment scams in the past week, with total losses exceeding HK$50 million.

The victim first encountered a fake investment advertisement on Facebook. Clicking the link directed her to a WhatsApp group that offered contacts with cryptocurrency investment experts. She was persuaded to download a sham app and transfer HK$80,000 to a personal cryptocurrency wallet.

Notifications on the app displayed substantial returns, prompting her to send an additional HK$1 million. She later discovered the transfers were part of a scam.

Police issued a warning on their CyberDefender page stating that platforms promising stable earnings or guaranteed high returns, especially those requesting transfers to personal wallets, are likely fraudulent. Officers also cautioned against unsolicited investment advice sent via WhatsApp.

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