Cryptocurrency crime in Hong Kong hits record levels, with one victim losing HK$124mil to fraudsters

Police say trend is down to more people staying home and going online amid Covid-19 pandemic. Crimes involving the digital currency tend to fall into categories such as money laundering, online shopping scams, or investment ruses. — SCMP

Cryptocurrency crimes and the scale of losses in Hong Kong soared to record levels in the first six months of this year, with one victim conned out of HK$124mil (RM67.37mil).

Police logged 496 such cases involving victims losing a total of HK$214.4mil (RM116.50mil) in the first half of 2021. Across the whole of last year, total losses from 208 cases stood at HK$114.4mil (RM62.16mil).

Limited time offer:
Just RM5 per month.

Monthly Plan


Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan


Billed as RM148.00/year

1 month

Free Trial

For new subscribers only

Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Scam , fraud


Next In Tech News

TikTok vows legal battle as the US presses for app’s sale or ban
Deepfakes of Bollywood stars spark worries of AI meddling in India election
India's Wipro rises as Street pins hopes on new CEO after Q4 results
Malaysia plans South-East Asia’s largest integrated circuit design park
Tencent to release ‘Dungeon and Fighter’ mobile game in May
Former Ohio coach admits obtaining nude photos of boys by posing as teen girl online
What we know about the shooting of an Uber driver in Ohio and the scam surrounding it
Elon Musk’s robotaxi dreams plunge Tesla into chaos
Tiny Texas city repels Russia-tied hackers eyeing water system
Elon Musk draws Australia’s wrath over Sydney attack images on X

Others Also Read