Kitten ruse costs woman RM3.36mil in Hong Kong crypto scam

A 58-year-old woman fell victim to an elaborate con that began with an online acquaintance promising a kitten as a gift, according to Hong Kong police. - The Straits Times/ANN

HONG KONG, Feb 11, 2023 (AFP): A Hong Kong woman trying to adopt a kitten online has lost more than US$770,000 (RM3.36 million) in a crypto ruse, police said, as figures obtained by AFP Friday showed a sharp rise in scams in the city involving digital currencies.

The Chinese finance hub has been encouraging investment in virtual assets to bolster its fintech credentials, but the anonymous nature of cryptocurrency and lack of regulation make it popular with fraudsters.