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Police have warned that scammers are using false promises of “AI analysis” for cryptocurrency investment and fake mobile apps to defraud victims, with more than HK$50 million lost in over 70 cases reported in the past week alone.
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According to the force’s CyberDefender Facebook page, one case involved a victim who came across a fraudulent investment advertisement on social media.
After clicking the link, the victim was redirected to WhatsApp and contacted by a scammer posing as a “cryptocurrency investment expert.” The victim was then lured into downloading a fake investment platform app and instructed to transfer HK$80,000 to a cryptocurrency wallet.
The app later showed what appeared to be substantial investment returns, prompting the victim to transfer more than HK$1 million. The victim only realized it was a scam when all withdrawal requests were rejected.
Police said fraudsters are increasingly claiming that their technology can accurately predict cryptocurrency market trends and generate lucrative returns.
Authorities urged the public to remain vigilant, warning that such scams are often promoted with misleading descriptions such as “AI investment,” “high-tech analysis” and “guaranteed returns.”
