Losses from cryptocurrency scams double to HK$1.7bil in Hong Kong last year, with 67% spike in cases

According to police, 2,336 cryptocurrency-related scams reported in Hong Kong last year. One woman vice-president of fashion company duped out of digital tokens worth HK$6mil trying to buy kitten. — SCMP

Financial losses from cryptocurrency-related scams doubled to more than HK$1.7bil (US$216.6mil) in Hong Kong last year, as the number of victims tricked into funnelling digital assets to online swindlers jumped 67%.

Latest police figures showed the scams accounted for more than half of the HK$3.2bil conned out of city residents, as well as some victims living abroad, in nearly 23,000 reports of technology crimes last year.