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).