Love ends in losses: HK woman loses $1.8m in romantic scam involving Tether investment

As romance scams proliferate in the digital age, a local woman was swindled out of nearly HK$1.8 million by a man she met on LinkedIn.

In a social media post on Wednesday (Sep 10), the police reported over 30 online romance scams since September, resulting in losses exceeding HK$12 million.

One victim, a 37-year-old woman, met a man on LinkedIn who claimed to be a Singaporean working in Hong Kong. 

Their relationship quickly blossomed into a romance via WhatsApp, where the man pitched an investment in Tether (USDT), promising great returns and offering to teach her the ropes.

Lacking knowledge about cryptocurrency, the lovestruck victim placed her trust in her "boyfriend" and downloaded a fake investment app as instructed. 

Within just two months, the victim transferred over HK$1.8 million to a designated private bank account and FPS account.

It was only when she attempted to withdraw funds that she realized her "boyfriend" had vanished, leaving her with losses exceeding HK$600,000 and debts surpassing HK$1.2 million.

Police stated that fraudsters often appear to be professionals or foreigners in order to avoid in-person encounters or push for joint investments, urging the public to exercise caution when engaging in online connections. 

They also advised citizens to utilize the Scameter website and the mobile app to help identify potential scams.