A 55-year-old woman from Hong Kong has fallen victim to a cryptocurrency scam that resulted in the loss of her entire life savings – a staggering amount of almost HK$7 million.
The fraudulent project, which promised tens of thousands of US dollars in profits, was allegedly presented to the victim through Instagram by a scammer who gained her trust over time.
The scammer then convinced her to invest in a supposedly highly profitable cryptocurrency by creating an account on a fraudulent website.
The victim was assured that she would receive a daily payment of $300 in addition to a guaranteed profit of tens of thousands of US dollars.
However, according to law enforcement agencies, the information provided on the website regarding the price of crypto assets, positive dynamics, and investment returns was all fabricated.
The victim ultimately lost her life savings within just two months. Sadly, this is not an isolated incident, as there have been other cases of cryptocurrency fraud and intentional deception of investors, including the recent arrest of a former Deutsche Bank employee named Rashawn Russell.
It is a stark reminder to always be vigilant and do thorough research before investing in any financial opportunity.