A Hong Kong woman was defrauded of nearly HK$2 million in a sophisticated romance scam by an individual posing as a U.S. gold trader on WhatsApp.
The Hong Kong Police have issued a warning following a recent surge in online romance scams, with over 50 cases reported in the last two weeks, resulting in total losses exceeding HK$16 million.
In a particularly alarming case, a 47-year-old local woman was targeted by a fraudster who contacted her via WhatsApp, claiming to be a gold trader based in the U.S.
The two developed an online romantic relationship, during which the scammer persuaded her to invest in gold.
Initially, the victim transferred her entire savings of HK$300,000 into three different private bank accounts.
Under further pressure from the fraudster, she borrowed over HK$1.6 million from friends, despite warnings that the situation resembled a classic "pig-butchering" investment scam—a scheme where victims are emotionally manipulated before being financially exploited.
She converted the borrowed money into Tether (USDT) and deposited it into a designated e-wallet as instructed by the scammer.
It was only after discussing the situation with her family that she realized she had been deceived. By that time, the scammer had disappeared, leaving her with a staggering loss of nearly HK$2 million within just two weeks.
The Hong Kong Police Force's CyberDefender Facebook page has issued crucial advice to help residents identify and avoid such scams.
They recommend insisting on meeting directly with potential partners and establishing a genuine relationship, maintaining rationality and not being swayed by sweet talk, and refusing any unrealistic financial advice.
Additionally, they advise residents to always use the Scameter website and mobile app, which provide tools to help assess potential scams.
