Hong Kong received 25 cyber-fraud cases a week: a woman was induced to invest more than HK$ 26 million in virtual currency losses

On 2 August, the Hong Kong Media Network reported that Hong Kong's law enforcement authorities had recorded 25 cases of cyber-related investment fraud between 24 and 30 July, with a total loss of close to HK$ 70 million. One of the major cyber-investment frauds involved a Pentecostal insurance practitioner who had been lured by a cyber-inspiring person claiming to be a “car dealer” to invest in virtual currency, ultimately losing more than HK$ 26 million. The Police reminds investors that they should be vigilant in recommending investment projects when they are established through social platforms, in particular those involving virtual currency, ensuring high returns or requiring trading through strange platforms, and that they should not relax their financial security because of feelings or trust。